REG - Neometals Ltd - Outstanding Lithium Recovery Results for Primobius

NeometalsAnnouncement

04/10/2023 07:15

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RNS Number : 6512O  Neometals Ltd  04 October 2023

This announcement contains inside information

 

4 October 2023

 

Neometals Ltd

("Neometals" or "the Company")

 

Outstanding Lithium Recovery Results for Primobius

Highlights

·      New lithium recovery flowsheet results improve lithium yields
from >83% to >93%;

·      Hydrometallurgical refinery ("Hub") trials produce lithium
fluoride with +95% purity which is expected to offer operating and capital
cost savings; and

·      Lithium fluoride a major component in lithium electrolyte
manufacturing, has traded historically at a 60% premium to lithium carbonate,
further enhancing economics for owners of Primobius Hub plants.

Innovative battery materials recycler, Neometals Ltd (ASX: NMT & AIM: NMT)
("Neometals" or "the Company"), is pleased to announce the results of trials
on a new lithium recovery option for its Hub plant packages to be delivered
under supply and technology licensing agreements to third-party customers.

Lithium recoveries exceeding 93% were achieved precipitating lithium fluoride
("LiF") together with purity of 95%. This process improvement option can
replace Primobius' current lithium solvent-extraction circuit which produces
lithium sulphate ("LiSO4") and is expected to reduce both operating and
capital costs.

LiF is used to produce lithium hexafluorophosphate ("LiPF6"), an inorganic
compound which is a key ingredient, or input, in state-of-the-art electrolytes
used in lithium-ion battery ("LiB") manufacturing. LiF trades historically at
a 60% premium over lithium carbonate ("Li2CO3"), and as such, is expected to
increase revenues for owners of Primobius' LiB recycling Hub's with this
lithium recovery option.

Primobius has received strong interest in its LiF product from the lithium
electrolyte supply chain and will be providing samples under material testwork
agreements with leading Chinese precursor and electrolyte manufacturers.
Further improvements to product purity are expected to be achieved over the
coming months.

Whilst pursuing this new process as part of ongoing continuous improvement and
cost reduction work, Primobius is also capable of, based on customer
requirements and specifications, producing lithium sulphate LiSO4 suitable for
further processing into Li2CO3 or lithium hydroxide ("LiOH").

 

Neometals Managing Director Chris Reed said:

"Firstly, I would like to congratulate the Primobius, SMS and Neometals
technical teams on another outstanding innovation. Our original plant design
now includes EV module discharging and dismantling, and has the flexibility to
produce intermediate, cathode or electrolyte lithium products. In addition to
meeting regulatory and customer requirements, greater efficiency translates
into stronger economics for the owners of our recycling plants."

 

Figure 1 below shows the European Union Battery Regulations which mandate
elemental recovery rates for recycling processes producing battery materials.
These latest results show Primobius' end product basket of battery materials
(nickel, cobalt, copper and lithium) all exceed the mandated recovery rates
from recycling black mass feedstock. Neometals' ASX release dated 1/6/2023 1 
(#_ftn1) reported recovery levels of over 95% for nickel, cobalt and copper at
the Primobius Hilchenbach, Germany demonstration Hub.

Figure 1: European Union Recycling Regulations

 

Authorised on behalf of Neometals by Christopher Reed, Managing Director.

ENDS

 

For more information, please contact:

 

 Neometals Ltd
 Chris Reed, Managing Director & Chief Executive Officer                  +61 8 9322 1182
 Jeremy McManus, General Manager - Intellectual Property & Investor       +61 8 9322 1182
 Relations

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 Emily Hall
 Lily Pettifar

 

About Neometals

 

Neometals has developed and is commercialising three environmentally-friendly
processing technologies that produce critical and strategic battery materials
at lowest quartile costs with minimal carbon footprint.

Through strong industry partnerships, Neometals is demonstrating the economic
and environmental benefits of sustainably producing of lithium, nickel, cobalt
and vanadium from lithium-ion battery recycling and steel waste recovery.
Reducing the reliance on traditional mine-based supply chains and creating
more resilient, circular supply chains to support the energy transition.

The Company's three core business units are exploiting the technologies under
principal, joint venture and licensing business models:

 

·      Lithium-ion Battery ("LIB") Recycling (50% technology) -
Commercialisation via Primobius GmbH JV (NMT 50% equity). All plants built by
Primobius' co-owner (SMS group 50% equity), a 150-year old German plant
builder. Providing recycling service as principal in Germany and commenced
plant supply and technology licencing activities as technology partner to
Mercedes-Benz. Primobius targeting first commercial 50tpd plant offer to
Canadian company Stelco in the DecQ 2023;

 

·      Lithium Chemicals (70% technology) - Commercialising patented
ELi™ electrolysis process, co-owned 30% by Mineral Resources Ltd, to produce
battery quality lithium hydroxide from brine and/or hard-rock feedstocks at
lowest quartile operating costs. Co-funding Pilot Plant trials in 2023 with
Demonstration Plant trials and evaluation studies in 2024 for potential
25,000tpa LiOH operation in Portugal under a 50:50 JV with related entity to
Bondalti, Portugal's largest chemical company; and

 

·      Vanadium Recovery (100% technology) - aiming to produce
high-purity vanadium pentoxide from processing of steelmaking by-product
("Slag") at lowest-quartile operating cost. Investment decision with JV
partner, Critical Metals pending on planned 9,000tpa vanadium pentoxide
operation in Pori, Finland (NMT 72.5% equity). Feedstock sourced under 10-year
Slag supply agreement with SSAB and product offtake agreement with Glencore.
MOU with H2Green Steel for potential second, larger operation in Boden,
Sweden.

 

For further information visit www.neometals.com.au
(http://www.neometals.com.au/)

 

 

 1  See Neometals' ASX release dated 1 June 2023 titled "Primobius Update"

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