Lithium Ionic Corp, a Canadian lithium development company, has progressed overall engineering to 48 per cent completion at its Bandeira Lithium Project in Minas Gerais, Brazil, whilst receiving multiple offtake and debt-financing term sheets, according to GlobeNewswire.

The project, located in Brazil's Lithium Valley region, has entered structured procurement and contractor engagement phases, with 23 per cent of infrastructure procurement packages tendered. Basic plant engineering has been completed by Lycopodium, establishing key equipment selection, layout parameters and design criteria for processing facilities. Primary civil engineering for roads, plant areas and buildings is complete, with detailed engineering for raw water services and drainage at final stages.

Blake Hylands, CEO of Lithium Ionic, said Bandeira is firmly in the execution phase. "With a technically robust and optimised Feasibility Study in-hand, our focus has shifted to disciplined delivery - advancing engineering, securing the right commercial partnerships, and preparing the Project for construction," he stated.

Hylands added that progress is unfolding in a materially stronger lithium market than when the feasibility study was completed, reinforcing confidence in the project's long-term value. “Our objective is clear: to bring Brazil’s next high-quality, low-cost lithium operation into production with the right foundations in place.”

The company is in advanced offtake discussions with parties across North America, Europe, China and Japan, with lead parties having completed due diligence including concentrate testing and site visits. Strategic focus remains maximising long-term value whilst securing financing-ready offtake agreements supporting project debt.

Lithium market conditions have strengthened materially since September 2025. According to Fastmarkets, assessed prices for spodumene concentrate increased by more than 125 per cent, rising from approximately $800 (€672) per tonne in September 2025 to greater than $1,800 (€1,512) per tonne in February 2026.

Access comprehensive details on Bandeira's engineering progress and commercial developments in the complete report.