TIDMNMT
RNS Number : 0142T
Neometals Ltd
10 November 2023
This announcement contains inside information
10 November 2023
Neometals Ltd
("Neometals" or "the Company")
Successful ELi Purification Pilot Trial
Highlights:
-- Neometals 70% owned lithium chemical processing technology
("ELi(TM)") purifies lithium chloride to specification required for
electrolysis trial to commence;
-- Pilot trials are being co-funded by Bondalti group, whilst a
new co-operation agreement is being negotiated to cover proposed
Demonstration Plant in Portugal.
-- ELi(TM) has several advantages over conventional processes
including lower operating expenditures by substituting electricity
for chemical reagents, higher product purity and a smaller CO(2)
footprint.
Innovative battery materials recycler, Neometals Ltd (ASX: NMT
& AIM: NMT) ("Neometals" or "the Company"), is pleased to
announce successful completion of the purification phase
("Purification Testwork") of its Lithium Chemical pilot trial
("Pilot"). The Purification Testwork, conducted on a brine feed
source, has confirmed earlier bench-scale testing by removing
>97% of brine feed source impurities. This supports production
of a purified brine solution that sits comfortably within
specification for subsequent electrolysis stage of the Company's
majority owned ELi(TM) process ("ELi(TM) Technology").
Neometals' Lithium Chemical business unit is commercialising the
ELi(TM) Technology owned by Reed Advanced Materials Pty Ltd ("RAM")
(70% NMT, 30% Mineral Resources Ltd (ASX:MIN)). RAM is co-funding
the Pilot with Bondalti group, Portugal's largest chlor-alkali
chemical producer and held by José de Mello Group, one of
Portugal's largest corporate groups.
The ELi(TM) process comprises brine purification, followed by
electrolysis where electricity is used to convert lithium chloride
solutions into lithium hydroxide and/or lithium carbonate. The
purification Pilot, undertaken by a third party laboratory,
processed an actual South American salar brine concentrate.
The pilot has confirmed earlier bench-scale testing and
successfully removed from the brine the impurities that are
impediments to optimum electrolysis performance. Brine analysis
"before" (unpurified brine feed) and "after" (purified brine) is
summarised as follows:
Table 1 - Assay Results before and after Purification
(mg/L) Li Ca Mg B Sr Si
Before 62,654 6,260 15,792 7,141 71 52
------- ------- ------- ------- ------- ----
After
(ave) 45,100 <0.9 <0.09 <0.4 <0.002 1
------- ------- ------- ------- ------- ----
% removed* n/a >99.98 >99.99 >99.99 >99.99 >97
------- ------- ------- ------- ------- ----
*Using the assay detection limit for calculation of recovery
ELi(TM) has several advantages over conventional processes
including lower operating expenditures by substituting electricity
for chemical reagents, higher product purity and a smaller CO(2)
footprint. The Purification Testwork successfully removed
impurities that can impede electrolysis efficiency (consumption).
Higher and stable electrical current efficiency in turn extends
electrolysis membrane durability (useful life), reducing
maintenance time and cost and increasing the end-product grade.
Figure 1: Schematic showing a comparison of the conventional
flowsheet for
the production of lithium hydroxide from brines with the Eli(TM)
process
Next steps
The schedule for next stage activities is as follows:
Activity Location Completion
Purified brine delivery Vancouver Q4 23
---------- -----------
Brine and test preparation Buffalo Q4 23
---------- -----------
Split sample for electrolysis Buffalo Q4 23
pilot
---------- -----------
Full-scale test Vancouver Q4 23
---------- -----------
Long-term electrolysis Buffalo Q1 24
pilot
---------- -----------
Lithium hydroxide crystallisation Buffalo Q1 24
---------- -----------
Background - Lithium Refinery("LR") Project
With the original planned pilot activities nearing conclusion
and Bondalti's parent incorporating a dedicated lithium subsidiary,
Lifthium Energy S.A., RAM and Bondalti Group are continuing to
co-fund the agreed pilot plant activities while a new cooperation
agreement is being negotiated in parallel[1]. The evaluation
activities completion of an engineering cost study ("LR ECS") and
pilot-scale metallurgical test-work ("Pilot Trials").
Table 2 : Key LR ECS Metrics*
ECS Metrics (100% ownership
basis)
Annual Production 25,000tpa LHM
============================
Annual Throughput 80,000 tpa Brine @ 6% Li
============================
Average Operating Cost (+/-15%)** EUR1,768/t (US$1,945/t)
LHM
============================
Total initial capital costs (+/-15%)*** EUR405M (US$446 M)
============================
Capital Intensity**** EUR16,200/t (US$17,840/t)
LHM capacity
============================
* (for full details refer to Neometals ASX announcement headlined 'Portugal Lithium
Refinery
Study Confirms Step-change Opex of ELi(TM) Technology" released on 26(th) April 2023).
** from receipt of 6% Li brine concentrate to packaged high purity "battery grade"
lithium
hydroxide product, excluding by-product credits
*** Total of direct and indirect capex including 15% contingency, EPC fees and design
post-Class
3
**** Based on total capex and 25,000tpa LHM capacity
Figure 2: Engineering Cost Study Opex comparison showing
significantly reduced operating costs to generate LHM when compared
to conventional Brine and spodumene routes (noting that
conventional Brine processing is a two-stage process with lithium
carbonate ("LC") produced before additional processing into
LHM.
Authorised on behalf of Neometals by Christopher Reed, Managing
Director.
For more information, please contact:
Neometals Ltd
Chris Reed, Managing Director & Chief Executive
Officer +61 8 9322 1182
Jeremy McManus, General Manager - IP & IR +61 8 9322 1182
Cavendish Securities plc - NOMAD & Joint
Broker
Neil McDonald +44 (0)131 220 9771
Peter Lynch +44 (0)131 220 9772
Adam Rae +44 (0)131 220 9778
RBC Capital Markets - Joint Broker +44 (0) 20 7653 4000
Paul Betts
Jamil Miah
+ 44(0) 20 3 757
Camarco PR 4980
Gordon Poole
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
lithium, nickel, cobalt and vanadium from lithium-ion battery
recycling and steel waste recovery. This reduces the reliance on
traditional mine-based supply chains and creating more resilient,
circular supply 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 licensing
activities as technology partner to Mercedes-Benz. Primobius
targeting first commercial 21,000 tpa plant offer to Canadian
company Stelco in the DecQ 2023;
-- Lithium Chemicals (70% technology) - Commercialising patented
ELi(TM) 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 planned 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. Targeting
partnerships with steel makers and participants in the vanadium
chemical value chain under a low risk / low capex technology
licensing business model.
For further information visit www.neometals.com.au
1 (for full details refer to Neometals ASX announcement
headlined "Lithium Chemicals Co-operation Update" released on 3(rd)
October 2023) .
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