Neometals Ltd: Advancing Lithium Battery Recycling and Hydrometallurgical Projects
10.06.2024 | NewsDirect
Neometals Ltd., headquartered in Western Australia, has recently upgraded its listing on the OTC market in the United States. General Manager for Investor Relations, Jeremy McManus, detailed the company's focus on developing mineral processing technologies aimed at recovering critical materials from high-value waste, transitioning from its roots in exploration and mining to a focus on the circular economy.The company operates three main business units: lithium battery recycling, lithium chemical production, and vanadium chemicals, all based on hydrometallurgical techniques. Their flagship project, a lithium battery recycling initiative, is a 50/50 joint venture with a German plant builder named Primobius. This joint venture includes operations in Germany and a pilot facility for Mercedes-Benz.
McManus highlighted a recent opportunity to acquire 80% of a business with its own technology, which has shown promising interim results from test programs. In the next three to six months, Neometals aims to advance the construction and commissioning of their German facility for Mercedes-Benz, pursue industrial partnerships for their vanadium and lithium business units, and make an investment decision on their precious metals project in Colorado by August.
The US market is significant for Neometals due to opportunities for selling recycling plants and raising awareness. The company's recent OTC listing upgrade is a strategic move to enhance visibility and engagement in the American market.
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