October 17, 2019 / 2:17 AM / 4 months ago

Neometals to partner with German firm to commercialize battery recycling tech

(Reuters) - Australia’s Neometals Ltd (NMT.AX) on Thursday signed a preliminary deal with German metallurgical equipment supplier SMS Group GmbH to commercialize the miner’s lithium-ion battery recycling technology.

Under the terms of the agreement, Neometals and SMS Group will form an equally-owned joint venture which will further develop, manage and operate Neometals’ lithium-ion recycling business.

Setting up of the joint venture will follow a period, during which the German firm will evaluate results of the technology being used at a pilot plant in Canada.

The agreement come at a time when industry executives expect Australian lithium miners to recover from weaker demand and plummeting prices in the middle of next year.

Earlier this month, Neometals had signed a deal with a Chinese research organization to develop its Barrambie titanium-vanadium project in Western Australia.

Reporting by Shreya Mariam Job in Bengaluru; Editing by Shounak Dasgupta

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below