Lithium Ionic

What Lithium Ionic does

Lithium Ionic Corp. is a Canadian lithium development company founded in 2022 and headquartered in Toronto, with operations concentrated in Brazil's "Lithium Valley" in northeastern Minas Gerais State. The company holds 11,684 hectares of mineral claims across three principal projects—Bandeira (flagship, near-term production), Salinas-Baixa Grande, and Itinga-Outro Lado—and is developing an underground hard-rock lithium mining operation targeting 177,000 tonnes per annum of spodumene concentrate at 5.2% Li2O grade over an 18.5-year mine life. The Bandeira project's Updated Feasibility Study (September 2025) estimates a post-tax NPV8 of US$1.45 billion with a 61% IRR on US$191 million of initial CAPEX, positioning the operation in the first quartile of global hard-rock lithium producers at $378/t SC5.2 all-in site operating costs.

The company's core processing technology centers on Dense Media Separation (DMS) combined with ore sorting to produce battery-grade spodumene concentrate. A two-stage crushing circuit (jaw crusher and gyratory cone crusher) feeds dry screening classification; coarse and mid fractions are upgraded via ore sorting to approximately 1.50% Li2O before DMS processing, achieving 68.9% metallurgical recovery to final SC5.5 concentrate. Lithium Ionic employs dry-stack tailings disposal to reduce water consumption and support site rehabilitation, and secures low-cost renewable hydroelectric power via an October 2023 agreement with CEMIG Distribuição S.A. for grid connection and a new substation adjacent to Bandeira.

Lithium Ionic's commercial model is anchored on direct, multi-year offtake agreements with tier-one integrated lithium processors. In March 2026, the company executed binding five-year offtakes with Yahua Group and Grand Chen covering 170,000 tpa of concentrate—effectively all Phase 1 production capacity—accompanied by a US$20 million combined pre-payment facility and minimum pricing of US$1,000/t with no price cap. Development has been financed through a sequence of private placements (C$25M in 2022, C$25M bought-deal in 2023, US$15M in June 2024, US$10M in September 2025), a US$20M royalty with Appian Capital Advisory (June 2024), and product pre-payments. The company is publicly listed on the TSX Venture Exchange (LTH.V) and OTCQX (LTHCF) but has not yet commenced commercial production, placing it firmly in the development-stage mining category.

Name

Lithium Ionic

Legal name

Lithium Ionic Corp.

Website

https://lithiumionic.com

Company type

Public

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

Lithium Ionic Corp. is a Canadian near-term lithium developer advancing its flagship Bandeira hard-rock project in Brazil's Lithium Valley toward 177,000 tpa of spodumene concentrate production, serving tier-one Chinese lithium processors under binding five-year offtake agreements.

Ownership category

akta.pro rank

Product category

Lithium Mining

NAICS

Battery Manufacturing (33591)

akta.pro primary industry

Lithium Mining & Brine Extraction (IMAKAFAA)

akta.pro secondary industry

Battery Raw Materials Mining & Refining (Lithium, Nickel, Cobalt, Manganese, Graphite) (EUAFABAA)

Keywords

• Lithium mining
• Spodumene concentrate production
• Battery materials supply
• Hard-rock lithium
• Mineral resource development

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Infrastructure, Personnel, Others

Revenue model

1. Spodumene Concentrate Sales: Primary revenue from selling high-quality spodumene concentrate (5.2% Li2O) produced at the Bandeira Lithium Project. Production capacity of 177,000 tonnes per annum with binding offtake agreements in place. Average annual revenue projected at $417M over mine life.
2. Royalty Financing: Completed US$20M royalty agreement with Appian Capital Advisory LLP, involving a 2.25% gross revenue royalty on the Bandeira Lithium Project with option to buy back within five years for US$67.5M. This is a financing structure, not operational revenue.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Lithium Ionic is a Canadian mining company that explores, develops, and produces high-quality spodumene concentrate (5.2% Li2O) from hard-rock lithium deposits in Brazil's Lithium Valley. Its flagship Bandeira Lithium Project targets 177,000 tonnes per annum of battery-grade spodumene concentrate supply over an 18.5-year mine life for tier-one lithium chemical producers and battery manufacturers in the EV supply chain.

Product overview

Lithium Ionic is a Canadian lithium development company operating as a near-term producer of high-quality, low-cost lithium concentrate (spodumene concentrate at 5.2% Li2O) in Brazil's Lithium Valley. The company's flagship Bandeira Lithium Project is an 18.5-year underground mining operation producing 177,000 tonnes per annum of spodumene concentrate for the global EV and battery supply chains. The project portfolio includes the advanced-stage Bandeira Project (construction-ready), the exploration-stage Salinas-Baixa Grande Project (showing 32% resource growth), and the Itinga-Outro Lado Project (high-grade satellite deposit). The company operates with a vertically integrated approach from mining through concentrate production, with binding offtake agreements securing customer offtake.

Differentiator

Problem solved

Functional benefit

Products and services

• Bandeira Lithium Project Flagship 100%-owned underground lithium mining project in Minas Gerais, Brazil's Lithium Valley, designed to produce 177,000 tonnes per annum of high-quality spodumene concentrate (5.2% Li2O) for tier-one lithium producers and battery manufacturers.
• Spodumene Concentrate (SC5.2) Battery-grade spodumene concentrate product at 5.2% Li2O grade produced from the Bandeira Project, marketed to lithium chemical producers, battery manufacturers, and EV supply chain participants globally under long-term offtake agreements.
• Salinas - Baixa Grande Project Exploration-stage lithium project located in the northern section of Brazil's Eastern Pegmatite Province in Minas Gerais, adjacent to Latin Resources' Colina Project, acquired in March 2023 to support resource expansion and future production optionality.
• Itinga - Outro Lado Project High-grade lithium deposit located approximately 5 km northwest of the Bandeira Project, containing Measured and Indicated resources of 2.97Mt grading 1.46% Li2O and Inferred resources of 0.42Mt grading 1.48% Li2O, offering future upside to complement Bandeira production.

Quantifiable outcome

• Post-tax NPV8 of US$1.45 billion with 61% IRR
• +4 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Twelve partnerships are on record, tiered supporting and core.

• NCL Ingeniería y Construcción SpAsupportingImplementation/ SI/ Consulting Partner · 25 June 2026Completed detailed three-year mine plan and refined life-of-mine plan for Bandeira Project.
• Tractebel EngineeringsupportingImplementation/ SI/ Consulting Partner · 25 June 2026Finished basic engineering for underground mine portals at Bandeira Project.
• Yahua GroupcoreStrategic or Co-development Partner · 25 March 2026Binding five-year offtake agreement for spodumene concentrate supply. Tier-one supplier to BYD, Tesla, CATL and LG Energy Solution. Includes US$20 million combined pre-payment facility. Significant endorsement of project quality and strategic position.
• Grand ChencoreStrategic or Co-development Partner · 25 March 2026Binding five-year offtake agreement for spodumene concentrate supply. Includes US$20 million combined pre-payment facility. Represents tier-one supplier to major battery and EV manufacturers.
• RTEK International DMCCcoreStrategic or Co-development Partner · 2 April 2025Engaged as strategic advisor to fast-track Bandeira development. RTEK's team of lithium veterans (Brian Talbot, Nicholas Rowley, Noel O'Brien, Rodrigo Roso) brings over 80 years combined lithium experience. Integrated into owner's team to optimize plant and mine design, reduce CAPEX/OPEX, and support construction readiness. Led by Martin Rowley, involved in financing.
• AtkinsRéalis (formerly SNC-Lavalin)coreImplementation/ SI/ Consulting Partner · 29 May 2024Coordinated the Feasibility Study covering engineering, process design, mine layout, risk assessment, and logistics for the Bandeira Project.
• CEMIG Distribuição S.A.supportingImplementation/ SI/ Consulting Partner · 31 October 2023Power infrastructure agreement secured in October 2023 for construction and electrification of transmission lines and new substation adjacent to Bandeira mine. Ensures access to low-cost, renewable hydroelectric power.
• GE21 Consultoria Mineral LtdacoreImplementation/ SI/ Consulting PartnerIndependent consultant responsible for mineral resource estimates and NI 43-101 technical reports for Bandeira, Salinas/Baixa Grande, and Outro Lado deposits.
• PlanminassupportingImplementation/ SI/ Consulting PartnerUnderground mine studies for Bandeira Project, led by mining engineer Rubens Mendonça.
• L&M AdvisorysupportingImplementation/ SI/ Consulting PartnerEconomic and financial model validation for the Feasibility Study, with João Augusto Hilario de Souza as qualified professional.
• WSP (formerly Golder)supportingImplementation/ SI/ Consulting PartnerEnvironmental Impact Assessment (EIA) studies for Bandeira property since early 2023.
• Neolit Minerals Participações LtdacoreStrategic or Co-development PartnerAcquired 100% of Neolit which owns the Salinas Project (initially 40% with option to acquire up to 85%). Provides strategic expansion into Salinas/Baixa Grande lithium project in Minas Gerais.

Scale indicators11 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Sigma Lithium: Sigma Lithium is the most directly comparable peer — a Brazilian hard-rock spodumene concentrate producer operating the Grota do Cirilo project in Minas Gerais' Lithium Valley, just kilometers from Lithium Ionic's Bandeira Project. Same district, same product (5%+ Li2O spodumene concentrate), same target customers in the global battery supply chain.
• Pilbara Minerals: Pilbara Minerals is one of the world's largest hard-rock lithium (spodumene) producers, operating the Pilgangoora mine in Western Australia. Closely comparable on product (technical-grade spodumene concentrate), customer base (downstream lithium chemical converters), and operating model (DMS processing of hard-rock ore).
• Liontown Resources: Liontown Resources is an Australian hard-rock lithium developer advancing the Kathleen Valley project to production. Highly comparable as a near-term spodumene concentrate producer with binding offtake agreements with tier-one customers (LG Energy Solution, Tesla, Ford), and a similar development-stage profile to Lithium Ionic.
• Latin Resources: Latin Resources is developing the Colina lithium project in Minas Gerais, Brazil, directly adjacent to Lithium Ionic's Salinas-Baixa Grande project. Same jurisdiction, similar hard-rock lithium geology, and recently subject to a major acquisition by Pilbara Minerals — a key comparable for Brazilian lithium development economics.
• Lithium Americas: Lithium Americas is a near-term lithium producer developing the Thacker Pass project in Nevada and Cauchari-Olaroz in Argentina. Comparable as a development-stage lithium company with binding offtake agreements with major OEMs (GM, Tesla), similar regulatory and project finance profile, and exposure to lithium price cycles.
• Atlas Lithium: Atlas Lithium is a Brazilian hard-rock lithium developer operating in the same Minas Gerais region as Lithium Ionic. Comparable as a small-cap, near-term lithium developer targeting spodumene concentrate production for the EV battery supply chain, with similar permitting, infrastructure, and customer-offtake dynamics.

Broad incumbents

• Albemarle Corporation: Albemarle is the world's largest lithium producer with diversified hard-rock and brine operations across multiple continents. Serves the same end-customers (EV/battery OEMs) but with a much broader portfolio that includes downstream conversion, making it a broad incumbent rather than a direct competitor in the upstream concentrate space.
• SQM: SQM is one of the world's largest lithium chemical producers, primarily from Chilean brine resources. Competes with Lithium Ionic in serving global lithium demand but operates a fundamentally different resource base (brine vs. hard-rock) and is integrated further downstream into lithium chemicals.
• Ganfeng Lithium: Ganfeng is a leading Chinese integrated lithium producer with operations spanning hard-rock mining, brine extraction, and downstream battery-grade lithium chemical production. Comparable as a target acquirer/offtake partner profile (similar to Yahua Group) and as a major player in the global lithium supply chain Lithium Ionic is targeting.

Emerging players

• Atlantic Lithium: Atlantic Lithium is developing the Ewoyaa lithium project in Ghana as a near-term spodumene concentrate operation. Comparable as a hard-rock lithium developer with similar Feasibility Study economics, African/brownfield jurisdiction exposure, and target customers in the downstream lithium conversion market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@lithiumioniccorp
• LinkedInlinkedin.com/company/lithium-ionic

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries2 records

Funding overview

Funding rounds5 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Lithium Ionic