en.Wedoany.com Reported - Canadian lithium developer Lithium Ionic Corp. (TSXV: LTH) announced on July 8, 2026, that it has issued Requests for Quotation (RFQs) to seven contractors for the construction of two portals for the underground mine at its Bandeira lithium project in the "Lithium Valley" of Minas Gerais, Brazil. This marks the project's transition from engineering design to the construction execution phase.
Lithium Ionic is a Canadian lithium development company focused on advancing its 100%-owned Bandeira lithium project. The Bandeira project is located in the "Lithium Valley" of Minas Gerais, Brazil, a region emerging as a globally significant hard-rock lithium mining area. The project's feasibility study was completed in May 2024, featuring a small-scale underground mine, an efficient beneficiation process, and safe, environmentally friendly dry-stack tailings facilities. Pre-feasibility study results indicate a post-tax net present value of US$1.3 billion at an 8% discount rate, an internal rate of return of 40%, and an initial construction investment of US$266 million.
According to the company's disclosure, this RFQ for the underground mine portals is a key component of the broader engineering, procurement, and construction preparation plan. The two portals will provide surface access for personnel, equipment, and development activities for the underground mine. Blake Hylands, CEO of Lithium Ionic, stated that the underground mine portals are a critical early engineering component of the project, and this tendering process supports the company's goals of continuously advancing construction preparation, standardizing procurement, and maintaining momentum in key development workflows.
Prior to this, Lithium Ionic has completed several pre-construction preparations. In June 2026, the company signed an 18-month lease agreement with local landowners, securing direct water extraction rights from the Jequitinhonha River during the construction of Bandeira. The company also collaborated with NCL Ingeniería y Construcción to complete a detailed three-year mining plan and an optimized life-of-mine plan, further validating the feasibility study results published in September 2025. Additionally, the company worked with Tractebel Engineering to complete the basic engineering design for the underground mine portals and has issued a tender for the project's primary crushing equipment, with supplier proposals received and currently under evaluation. Overall project design is approximately 65% complete, and 1,352 meters of geotechnical drilling have been completed.
The Bandeira project is located northeast of Araçuaí, approximately 1,000 kilometers north of Rio de Janeiro. The underground mine is expected to commence production in 2026, with a mine life of 14 years, and is planned to produce 17.2 million tonnes of spodumene concentrate grading 5.5% Li₂O. With the advancement of the underground mine portal tendering and the completion of various pre-construction preparations, the Bandeira project is steadily moving toward a construction decision.
