TIDMALK
RNS Number : 8773S
Alkemy Capital Investments PLC
14 March 2023
14 March 2023
Alkemy Capital Investments Plc
Tees Valley Lithium's lithium refinery identified by the
Critical Minerals Association as a case study project required for
the successful development of the UK's critical minerals midstream
processing and refining sector
Alkemy Capital Investments plc ("Alkemy") (ALK:LSE) (JV2:FRA)
and its wholly-owned subsidiary Tees Valley Lithium Limited (" TVL
") are pleased to report that TVL's lithium hydroxide refinery at
Teesside features significantly in the Critical Minerals
Asssociation's paper entitled " Midstream Processing and Refining:
Unlocking Security of Supply".
HIGHLIGHTS
-- The Critical Minerals Association United Kingdom ("CMA UK")
is a key interlocutor between the UK Government and the critical
minerals industry and aims to support the development of critical
minerals supply chains in the UK
-- TVL's lithium refinery in Teesside has been identified by the
CMA UK as a case study project that will form a key strategic
component of the UK's critical minerals midstream processing and
refining sector
-- CMA UK recommends that the UK government implement strategic
solutions that include incentivising and accelerating investment
into UK midstream and downstream processing, which would greatly
benefit TVL
CMA UK states that its mission is to support the development of
socially and environmentally responsible critical mineral supply
chains for the UK's strategic security of supply for the Energy
Transition, Energy Security, and Green Economy.
In a paper pulished yesterday entitled "Midstream Processing and
Refining: Unlocking Security of Supply", TVL's Wilton refinery was
highlighted by CMA UK as a project of strategic importance in the
UK critical minerals midstream processing and refining sector. It
noted that:
"TVL is establishing Europe's potentially first and largest
lithium hydroxide facility based in the North East of England. The
facility will eventually use a low-carbon electrochemical
processing route and will be powered by renewable energy.
TVL has the potential to become one of the lowest carbon lithium
refining projects in the world.
Alkemy aims to reduce embedded carbon in the lithium refining
process by producing lithium sulphate at the Port Hedland merchant
refinery in Western Australia which will serve as a hub for
Australian spodumene miners, enabling direct access to the growing
European battery market. The refinery will aim to become the
primary source of feedstock for the TVL refinery in the UK and
enable the production of low-carbon, battery-grade lithium
hydroxide."
CMA UK's paper also recommended that the UK government implement
five key strategic solutions to secure the UK's stable and
resilient green economy, all of which would benefit TVL, as
follows:
-- Incentivise and accelerate investment into UK midstream and downstream processing.
-- Align government departments on the importance of critical minerals.
-- Leverage UK freeports to promote international business.
-- Extend the UK's soft power by supporting UK critical mineral companies operating overseas.
-- Invest in the next generation of critical mineral leaders.
A full copy of the paper can be found here on the CMA UK's
website:
www.criticalmineral.org/_files/ugd/5caeff_58f8a2c396e241219aa4b108e6c705db.pdf
Alkemy and TVL Director Sam Quinn commented:
"We welcome the Critical Minerals Association's latest paper and
its conclusions strongly support Tees Valley Lithium's strategy
that will see its lithium hydroxide project form a significant
component of the UK's transition to electric vehicles. We look
forward to continuing to work with the UK government to help
deliver the worthy objectives outlined by the CMA ."
Further information
For further information, please visit Alkemy's website:
www.alkemycapital.co.uk or TVL's website
www.teesvalleylithium.co.uk .
-Ends-
Alkemy Capital Investments Plc Tel: 0207 317 0636
Sam Quinn info@alkemycapital.co.uk
VSA Capital Limited Tel: 0203 005 5000
Andrew Monk (Corporate Broking)
Andrew Raca (Corporate Finance)
Shard Capital Partners LLP Tel: 0207 186 9952
Damon Heath damon.heath@shardcapital.com
Tel: 0207 186 9927
Isabella Pierre isabella.pierre@shardcapital.com
NOTES TO EDITORS
Alkemy is seeking to establish the world's leading independent
and sustainable lithium hydroxide production by developing
state-of-the-art lithium sulphate and lithium hydroxide facilities
in Australia and the UK.
Alkemy, through its wholly-owned subsidiary Tees Valley Lithium,
has secured a 9.6 ha brownfields site with full planning permission
at the Wilton International Chemicals Park in Teesside, a major UK
Freeport, to build the UK's first and Europe's largest lithium
hydroxide processing facility.
Tees Valley Lithium has completed a Class 4 Feasibility Study
for its proposed lithium hydroxide refinery which will process
feedstock imported from various sources to produce 96,000 tonnes of
premium, low-carbon lithium hydroxide annually, representing around
15% of Europe's projected demand.
Alkemy has also secured a site near Port Hedland, Western
Australia to build a world-class sustainable lithium sulphate
refinery that will provide reliable feedstock for Tees Valley
Lithium.
Forward Looking Statements
This news release contains forward--looking information. The
statements are based on reasonable assumptions and expectations of
management and Alkemy provides no assurance that actual events will
meet management's expectations. In certain cases, forward--looking
information may be identified by such terms as "anticipates",
"believes", "could", "estimates", "expects", "may", "shall",
"will", or "would". Although Alkemy believes the expectations
expressed in such forward--looking statements are based on
reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ
materially from those projected. Mining exploration and development
is an inherently risky business. In addition, factors that could
cause actual events to differ materially from the forward-looking
information stated herein include any factors which affect
decisions to pursue mineral exploration on the relevant property
and the ultimate exercise of option rights, which may include
changes in market conditions, changes in metal prices, general
economic and political conditions, environmental risks, and
community and non-governmental actions. Such factors will also
affect whether Alkemy will ultimately receive the benefits
anticipated pursuant to relevant agreements. This list is not
exhaustive of the factors that may affect any of the
forward--looking statements. These and other factors should be
considered carefully and readers should not place undue reliance on
forward-looking information.
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