TIDMNMT
RNS Number : 7652S
Neometals Ltd
08 November 2023
This announcement contains inside information
8 November 2023
Neometals Ltd
("Neometals" or "the Company")
Outstanding Nickel Sulphate Purity for Primobius
Highlights
-- Primobius' German lithium-ion battery ("LIB") recycling
demonstration trial generates battery-grade nickel sulphate
exceeding Chinese cathode producer specifications from recycling
batteries;
-- Nickel sulphate is the largest volume material produced from
recycling NMC LIB's (the predominant EV chemistry in Europe) and
the largest co-product revenue stream; and
-- The nickel sulphate results support the marketability of the
scalable Primobius plant packages to be built by partner and
leading plant builder, SMS group GmbH and supplied under technology
licencing agreements.
Innovative battery materials recycler, Neometals Ltd (ASX: NMT
& AIM: NMT) ("Neometals" or "the Company"), is pleased to
announce the successful production of battery-grade nickel sulphate
by its LIB recycling incorporated joint venture, Primobius GmbH
("Primobius"). Primobius is the 50:50 incorporated joint venture
established by Neometals and SMS group to co-fund commercialisation
of the patented LIB recycling technology ("LIB Recycling
Technology"), originally developed by Neometals.
The LIB Recycling Technology is based on a two-stage process to
recover lithium, nickel and cobalt (amongst others) before refining
into battery materials that can be reused to produce new LIB's.
Nickel is the largest volume battery material produced in the
Primobius process, the second most valuable product and major
contributor to ensuring the lithium co-product operating costs are
in the lowest quartile.
Fig 1 - Nominal Output and Relative Value from a Primobius'
21,000tpa plant
Product test-work
LIB's from the German EV auto industry were processed at
Primobius' Hilchenbach recycling facility in Germany. Discharged
and disassembled LIB modules were processed in the shredding
'Spoke' generating an intermediate product ("Black Mass") which was
then refined in the demonstration-scale hydrometallurgical refining
'Hub' to recover the cathode materials into high-purity solutions
via solvent extraction and precipitation (See Figure 2). The Black
Mass is a mixture of the graphite anode and cathode active
materials including lithium, nickel and cobalt.
Fig 2 - LiB Recycling Process Flowsheet
The polished Hub nickel solution (feed) was evaporated (mother
liquor) and crystallised off-site with a leading European equipment
vendor. The nickel sulphate crystals were then washed and assayed
by an independent third-party laboratory. The results confirmed the
ability of the LIB Recycling Technology to produce battery-grade
nickel sulphate (see Table 1) and validated the battery-grade
product previously produced by Neometals in its 2019 pilot trials
in Canada.
Next Steps
Primobius' production at scale of battery-grade nickel sulphate
follows recent positive lithium recovery results [1] and leaves
cobalt sulphate as the final key product to be tested. Cobalt
solutions have been dispatched and the test work is expected to be
completed in the current quarter.
The nickel sulphate results support the marketability of the
scaleable Primobius plant packages to be built by our partner, and
leading plant builder, SMS group GmbH and supplied under technology
licencing agreements. Customers will be able to responsibly recycle
their own LiB's, satisfying their regulatory and/or supply chain
requirements, producing critical battery materials at potentially
the lowest quartile operating cost and doing so with an industry
leading carbon footprint.
Table 1 - Assay results for nickel solutions and crystals vs
Primobius specifications
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] See Neometals' ASX release dated 4(th) October 2023 titled
"Outstanding Lithium Recovery Results for Primobius"
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END
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