Lithium Australia’s (ASX:LIT) 24 percent subsidiary Envirostream Australia has signed a memorandum of understanding with South Korean company SungEel HiTech for the sale of recycled battery metals.
As quoted in the press release:
▪ The Envirostream/SungEel MoU involves the exclusive supply of metals
extracted from recycled lithium-ion batteries (‘LIBs’) out of Australia.
▪ That supply comprises mixed metal dust (‘MMD’) – containing the energy
metals cobalt, nickel and lithium – recovered from spent LIBs at Envirostream’s
battery recycling plant in Melbourne, Australia.
▪ Currently, Envirostream is the only Australian company able to recycle all the
energy metals from spent LIBs.
▪ Envirostream will recommence its shipments of MMD this month, following a
recent expansion of its recycling facilities.