Battery recycling and lithium production has been improved by Neometals

Neometals is an Australian resource company and they have recently achieved excellent advancements when it comes to both battery recycling and lithium production technologies. Along with these accomplishments, the company has also reported updates for their mineral exploration projects.

Most recently Neometals has reported a cash balance of A$10.7 million, which has equal investments and net receivables, along with no debt. Further to this, the company has raised A$7.1 million throughout the quarter and they have been able to do this through a placement and entitlement issue, which resulted in A$0.09 per share.

On top of this, regarding downstream processing technologies, the company’s joint venture Primobius GmbH, which is co-owned with SMS group GmbH, reportedly supplied a 2,500-ton per annum recycling plant which was dedicated to lithium-ion batteries. The company supplied this plant to Mercedes-Benz (OTC:MBGAF) in Germany, specifically, Kuppenheim. This plant will be extremely significant as it is the first of its kind within Europe and right now it is expected that it will be able to produce high-purity battery materials, which can then go on to be utilised within electric vehicles. From this point, the next steps are for commissioning and acceptance testing to take place and these are scheduled for both the first and second halves of 2025.

Previous to this, Neometals’ 70% owned subsidiary, Reed Advanced Materials Pty Ltd (RAM), was able to complete a pilot trial, which focused on producing high-purity lithium hydroxide monohydrate. It has already been shown that the results support the efficiency of the proprietary ELi™ Process, which means it will be suitable for commercial-scale operation.

Simultaneously, the company is also focused on progressing vanadium recovery, which will be handled through their majority-owned Recycling Industries Scandinavia AB (RISAB). This facility is focused on advancing equity and debt financing processes. To support the progress of this facility, the Finnish State NextGeneration has provided funding in the form of a €15 million conditional investment grant.

Concerning upstream mineral exploration, Neometals made an announcement talking about a, ‘maiden gold exploration target’ at their, ‘100% owned Barrambie Gold and Vanadium/Titanium Projects. The target ranges between 8 million and 10.5 million tonnes at grades indicative of potential for significant brownfields discoveries.’ Currently the exploration is due to commence in March of 2025.

Further to this, the report also spoke about corporate activities, such as, ‘the completion of a capital raise and investments in related entities. Neometals holds a 26% stake in Redivium Ltd, which has exclusive technology licenses for battery recycling in various European countries, and an 18% stake in Critical Metals Ltd, which holds an exclusive license in Scandinavia.’