Collaboration with Australian Vanadium Limited

RNS Number : 8049N

Neometals Ltd

25 January 2023

 

25 January 2023

RNS

Neometals Ltd

("Neometals" or "the Company")

Collaboration with Australian Vanadium Limited

Emerging sustainable battery materials producer, Neometals Ltd (ASX: NMT) ("Neometals" or "the Company"), notes the announcement by ASX listed Australian Vanadium Limited (ASX: AVL) ("AVL") regarding an agreement on a non-binding term sheet between AVL and Australian Titanium Pty Ltd, a wholly owned Neometals subsidiary, released today.

A full copy of the announcement can be found at https://www.neometals.com.au/investors/performance-and-news/ .  

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For more information, please contact:

Neometals Ltd
Chris Reed, Managing Director & Chief Executive Officer	[phone]
Jeremy McManus, General Manager - Commercial & Investor Relations	[phone]
Cenkos Securities plc - NOMAD & Joint Broker
Neil McDonald	[phone]
Peter Lynch	[phone]
Adam Rae	[phone]
RBC Capital Markets - Joint Broker	[phone]
Jonathan Hardy
Jamil Miah
Camarco PR	+ 44(0) 20 3 757 4980
Gordon Poole
Charlotte Hollinshead
Lily Pettifar

About Neometals Ltd 

Neometals is an emerging, sustainable battery materials producer.  The Company has developed a suite of green, battery materials processing technologies that reduce reliance on traditional mining and processing and support circular economic principles.

Neometals' three core battery materials businesses, listed below, are commercialising these proprietary, low-cost, low-carbon process technologies:

·   Lithium-ion Battery ("LIB") Recycling (50% equity) - to produce nickel, cobalt and lithium from production scrap and end-of-life LIBs in an incorporated JV with leading global plant builder SMS group. The Primobius JV is operating a commercial disposal service at its 10tpd Shredding 'Spoke' in Germany and is the recycling technology partner to Mercedes Benz. Primobius' first 50tpd operation, in partnership with Stelco in Canada, is expected to reach investment decision in 2H2023;

·   Vanadium Recovery (earning 50% equity) - to produce high-purity vanadium pentoxide via processing of steelmaking by-product ("Slag"). Finalising evaluation studies on a 300,000tpa operation in Pori, Finland underpinned by a 10-year Slag supply agreement with leading Scandinavian steelmaker SSAB. Decision to form 50:50 JV with Critical Metals expected Q12023 with project investment decision expected end June 2023. MOU with H2Green Steel for up to 4Mt of Slag underpins a potential second operation in Boden, Sweden; and

·   Lithium Chemicals (earning 35% equity) - to produce battery-quality lithium hydroxide from brine and/or hard-rock feedstocks using patented ELi® electrolysis process owned by RAM (70% NMT, 30% Mineral Resources Ltd). Co-funding pilot plant and evaluation studies on a 20,000tpa operation in Estarreja, Portugal with Portugal's largest chemical producer Bondalti Chemicals S.A. Decision to form 50:50 JV with Bondalti expected Mar 2023.

 

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