Neometals (ASX & AIM: NMT)

Announced the successful completion by Primobius GmbH of the ECS for the Hub part (component) of a 21,000 tonnes per annum  fully integrated LiB recycling plant. 

 

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Neometals	ASX / AIM : NMT
Stage	Production + development
Metals	Titanium + Vanadium + lithium + nickel
Market cap	A$351 m   @ A$.63
Location	Western Australia, Germany, Finland, USA

 

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Neometals’ Battery Recycling ‘Hub’ Engineering Cost Study Results

 

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Neometals Ltd (ASX: NMT & AIM: NMT) (“Neometals” or “the Company”) is pleased to announce the successful completion by Primobius GmbH (“Primobius”) of the ECS for the Hub part (component) of a 21,000 tonnes per annum (“tpa”) fully integrated LiB recycling plant.

Primobius is the joint venture company owned 50:50 by Neometals and SMS group GmbH (“SMS”) that is commercialising proprietary LiB recycling technology originally developed by Neometals (“Recycling Technology”).

The Hub is designed to process 12,000tpa of concentrate comprised of the anode and cathode materials (“Black Mass”) arising from the processing of 21,000tpa of LiB modules and cells in the Spoke.

The Hub can process cells and modules in multiple formats (i.e. pouches, prismatics and cylindricals) and cathode chemistries (NMC, NCA and LCO) from electric vehicle and consumer electronic batteries.

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Highlights

• Successful completion of the Engineering Cost Study (“ECS”) for the hydrometallurgical refinery (‘Hub’) section of a 21,000tpa (~50tpd) Primobius lithium-ion battery (“LiB”) recycling facility;
• The Hub refines “Black Mass”1 produced from Primobius’ shredding (‘Spoke’) plant, producing crystalline nickel, cobalt and lithium products, amongst others, for use in making new LiBs;
• Hub ECS total capital costs of €274M (including 15% contingency) and annual operating cost of €56M have been estimated to +/-25% accuracy;
• Fully integrated Spoke2 and Hub capital cost are estimated at €377M3, with annual operating costs estimated at €83M3 or €3,9733 per tonne of LiB fed into the Spoke per annum;
• Lithium product is the largest revenue stream and expected to be lowest cost quartile; and
• Hub ECS completion allows Primobius to demonstrate the economics of its integrated LiB recycling plant packages to existing customers, partners and new customers.

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Neometals Managing Director Chris Reed said:

“Successful completion of the Hub ECS enables our current and future customers and partners to quantify the economic benefits of Primobius’ sustainable “closed loop” LiB recycling plants.

“Primobius is expeditiously advancing towards product readiness for its ~50tpd recycling plants and is anticipating our maiden plant award this quarter from Mercedes Benz for an integrated 10tpd plant.

 

“Primobius’ primary business model is for the sale of recycling plants under technology licensing agreements to generate a portfolio of battery material royalties.

 

“We retain the flexibility to enter into joint ventures where a customer also requires operation and maintenance services and can also provide complete “closed loop”
recycling as a service through our current Hilchenbach operation or a new dedicated plant.”

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To read the full news release, please click HERE

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If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

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Disclosure

At the time of writing the author holds no shares in Neometals

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