Lithium Australia Ltd (ASX:LIT, OTC:LMMFF) is forging a path toward ‘Energising a Better World’ by focusing on technology and solutions for the lithium-ion circular battery materials industry, a strategy that will be explained in an investor webinar next Friday, March 22
Fuelled by ambitious plans for its recycling operations and patented technologies, the company’s managing director and chief executive officer Simon Linge will join Proactive’s Elisha Newell at 11am AWST/2pm AEDT.
LIT shareholders and new interested investors can register in advance for the ‘Energising a Better World’ webinar by clicking on this link.
Lithium technologies
The company’s technology focused on the key critical mineral metal of lithium is aimed at ensuring an ethical and sustainable future for the global battery industry.
This technology encompasses lithium-ion battery recycling at Envirostream, developing leading-edge cathode active materials for e-mobility and energy storage applications at VSPC, and developing other novel technology solutions, such as the lithium extractive processing technology LieNA®.
Questions can be submitted to Elisha at elisha@proactiveinvestors.com before 5pm AWST on March 21 and will be answered during the webinar. If there are numerous questions on a particular subject the answers will be consolidated in the interests of time.
READ: Lithium Australia gears up for transformative 2024; recycling, technology in focus
Lithium Australia is poised for a transformative year in 2024, incorporating plans for its recycling operations and patented technologies, and following up 2023 when it made progress in four areas:
- Developing safer systems of operation;
- Securing higher volumes of lithium-ion batteries (LIB);
- Adjusting its commercial model to ensure pricing reflected service levels; and
- Optimising its operating model to improve efficiencies.
Recycling MoU
During next Friday’s webinar Simon Linge will address recent developments and future plans for LIT’s recycling subsidiary Envirostream, including the signing of a non-binding MoU for a potential Mixed Metal Dust (MMD) offtake deal and possible expansion of recycling capability and capacity.
READ: Lithium Australia signs MoU with Korea’s SungEel HiTech for MMD offtake
While the MoU with Korea’s SungEel HiTech Co., Ltd is being finalised, a sales and purchase contract with SungEel will facilitate sales of MMD, also known in the industry as Black Powder.
Securing strong MMD offtake agreements is a key pillar to Lithium Australia’s strategic target to scale the company’s recycling operations and the company hopes that the MoU will lead to a joint development agreement (JDA) with SungEel enabling an expansion of Envirostream’s recycling capability and capacity.
Linge said: “The MoU signed with SungEel is very exciting for the growth of the company’s recycling operations
“Signing MMD offtake agreements is critical to Lithium Australia’s strategic roadmap, as it demonstrates the company’s ability to secure additional MMD customers as the collection volumes of LIBs continues to scale.”
MinRes JDA
Lithium Australia also continues to advance its joint development agreement (JDA) with prominent lithium producer Mineral Resources (MinRes) concerning LIT’s LieNA® lithium extraction technology.
READ: Lithium Australia advances joint development with MinRes, draws further funds
This JDA aims to continue piloting activities this year, including a pilot plant at which the LieNA® technology will be used. Once pilot plant operations and an engineering study have been completed it is proposed to establish a 50:50 joint venture which will wholly own the technology going forward.
“We are excited by the progress we have made so far with our partner MinRes which highlights our aligned ambition to continue developing the LieNA® technology,” Linge said.
“The appointment of Carnac and delivery of the engineering study will facilitate the development of the demonstration plant following the formation of a JV. We look forward to continuing our partnership and are on track to deliver positive results from the pilot plant during 2024.”
LFP/LMFP technology
Similar agreements are being pursued for the company's lithium ferro phosphate (LFP) and lithium manganese ferro phosphate (LMFP) battery material products, which offer a promising alternative to existing Chinese manufacturers.
Continued development, offtake agreements, raw material supply agreements and further engineering studies for a demonstration facility are all on the horizon.
To register for the ‘Energising a Better World’ webinar click on this link.