Lithium Australia strikes key partnership with Korean battery recycler
Melbourne, Victoria
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March 08, 2024 02:50 PM Eastern Standard Time
Lithium Australia (ASX:LIT) CEO and Managing Director Simon Linge sits down with Proactive’s Elisha Newell to discuss a new deal with Korean partner SungEel HiTech Co. to facilitate mixed metal dust (MMD) sales overseas. A recently inked memorandum of understanding seeks to formalise the relationship between the two entities, paving the way for SungEel to offtake ‘black powder’ — a material-rich recycling byproduct that can be brought back into the battery production chain. Linge says offtake agreements are key to LIT’s recycling mission, with scope for a relationship like this to evolve into a joint development agreement with SungEel down the line.
Linge told investors on Thursday: “Signing MMD offtake agreements is critical to Lithium Australia’s strategic roadmap, as it demonstrates the company’s ability to secure additional MMD customers as the collection volumes of LIBs continues to scale.”
"The MoU signed with SungEel is very exciting for the growth of the company’s recycling operations.
“SungEel is a global leading battery recycler with hydrometallurgical capabilities, which requires MMD as an input material for the extraction of high-purity battery materials,” he concluded.
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Proactive Investors
Jonathan Jackson
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