Italy's Iren, Australia's Altamin sign MoU for lithium recovery

Iren S.p.A.

06/03/2024 14:09

ROME, March 6 (Reuters) - Italy's multi-utility Iren
 IREE.MI  and Altamin  AZI.AX  signed a memorandum of
understanding aimed at recovering lithium from geothermal
projects the Australian group has around Rome, the two groups
said on Wednesday.
    The two companies plan to study the potential and the
recovery methods for lithium in waters in the Lazio region,
where Altamin has had permits since the 1970s and where it was
assessing the possibility of producing geothermal energy. 
    Lithium, a key raw material which is used in batteries for
smartphones as well as electric cars, can be extracted from
geothermal brines - salty waters found at high temperatures with
a high concentration of salts.  
    "Extracting lithium from geothermal brines has several
advantages over conventional methods, namely mining and
evaporation in lithium ponds," Alexander Burns, non-executive
chairman of Altamin, said in the statement. 
    The European Union and Italy are highly dependent on foreign
imports of the metal, which is largely produced in Australia,
Chile and China.   
    "The project with Altamin is among the first European
projects to connect industrial needs and circular economy
processes," Iren Chairman Luca Dal Fabbro said in the statement.
   

 (Reporting by Giulia Segreti, editing by Alvise Armellini and
Sharon Singleton)
 ((Giulia.Segreti@tr.com; +39.06.80307714;))