Neometals Primobius JV Operation Update

Neometals (ASX / AIM: NMT)

Advises that Primobius GmbH, the joint venture company owned 50:50 by Neometals and SMS group GmbH, has agreed development timeline amendments relating to the further commercialisation of its lithium-ion battery recycling technology. 

.

.

.

Neometals Primobius

Primobius Werkstatt Hilchenbach Plant, Germany.

.

..

Neometals ASX / AIM : NMT
Stage Production + development
Metals Titanium + Vanadium + lithium + nickel
Market cap A$605 m   @ A$1.10
Location Western Australia, Germany, Finland, USA

.

.

Neometals Ltd (ASX: NMT & AIM: NMT) (“Neometals” or “the Company”), advises that Primobius GmbH (“Primobius”), the joint venture company owned 50:50 by Neometals and SMS group GmbH, has agreed development timeline amendments relating to the further commercialisation of its lithium-ion battery (“LIB”) recycling technology (“LIB Recycling Technology”).

Primobius is  new dedicated ‘end-to-end’ LIB recycling demonstration trial for customers commencing in December 2022 (“Customer Demonstration Trial” or CDT”).

Metallurgical data from testing process improvements in the CDT will be incorporated into the engineering cost study for a commercial-scale hydrometallurgical refinery (“Hub ECS”).

Consequently, the completion of the Hub ECS is now expected in late Q2 2023 with other commercial milestones aligned accordingly.

.

.

Chris Reed, Neometals Managing Director said:

“2022 has been a transformative year for Primobius. We commenced commercial operations at our Hilchenbach Spoke plant, demonstrated our core hydrometallurgical refinery process, made R&D improvements and designed plants for our large brand name foundation customers.

 

“Our EV and module disposal service at the Hilchenbach Spoke continues to attract increasing volumes from the German OEM supply chains and 2023 operations are now underpinned by cornerstone LIB feedstocks arrangements.

“Primobius’ strategy to prioritise its foundation customer needs ahead of own plant building ambitions as principal has necessarily delayed finalisation of evaluation studies.

 

“The benefits of additional trials will be in the quality of the data, design and delivery of our recycling plants. The demand for our product is strong and our teams have built an enviable pipeline of new business opportunities with participants in every stage of the global lithium-ion battery supply chain.”

HIGHLIGHTS

  • Primobius makes development timeline amendments to accommodate a new dedicated ‘end-to-end’ demonstration trial for customers commencing in December 2022;
  • The trial will test refining ‘Hub’ process improvements using cells from discharged and disassembled customer EV modules that have been shredded in the Hilchenbach commercial ‘Spoke’ plant;
  • Hub Engineering cost study paused to allow incorporation of metallurgical data from the trial;
  • The trial will precede H1 2023 targets for execution of the Mercedes-Benz Spoke and Hub supply agreements, the Hub engineering cost study and execution of Stelco Spoke plant supply agreement; and
  • Cornerstone battery feedstock requirements for the Hilchenbach 10tpd Spoke have been secured for 2023 from the German OEM supply chain.
The full announcement can be viewed and downloaded here
.
.
.
.

=======

.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

=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Disclosure

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

.

.