Neometals, based in Perth, is about to build a lithium-ion battery recycling demonstration plant in Germany as Europe continues to dominate Australia by attracting investments in energy technologies.
Neometals and SMS Group, based in Dusseldorf, must inform the market of their joint venture after the transaction period of 31 July has expired.
SMS, a leading metallurgical appliances and plant company, has embarked on an exclusive due diligence procedure that has been extended with Neometals since October after being inspired by the prospect of the generation of recycling developed in Australia and the functionality of a pilot plant in Canada.
Interest arises when Europeans and legislators impose recycling and control through the lithium-ion battery industry that are recognized as hazardous waste and cause a fire hazard in the garage and transport.
The challenge is most urgent with the first wave of electric cars and static garage batteries that will succeed at the end of their lives in the coming years and with a ton of Apple batteries containing about six hundred kilograms of cobalt.
The Neometals procedure recovers valuable minerals from the battery for reuse.
In its quarterly report on Friday, Neometals said SMS had successfully completed due diligence on the pilot plant performance and the two companies were “now finalising definitive transaction documents for incorporated joint venture”.
Neometals, who began life as a gold coin, one of the first lithium players in Australia.
The Chris Reed-led company pocketed approximately $200 million from an initial $3 million investment after promoting the allocation of Mt Marion lithium to Minerals Resources and Jiangxi Ganfeng in China.
Neometals had $81.3 million in money and no debt as of June 30, as it appears to be the construction of the scalable demonstration plant, with a two-ton capacity consistent with the day, in partnership with SMS.
The Memorandum of Understanding between the two describes the demonstration plant in a star configuration with grinding and updating at SMS sites in Germany and its hydro-metallurgical plant in Austria.
The memorandum involves the structure and operation via SMS of several recycling plants on a commercial scale on behalf of the company.
The strict EU battery directive applies to all batteries and has a weight collection and recycling target of 45%, with a mandatory ratio.
The Australian Battery Stewardship Council has proposed an industry-led voluntary recycling program.
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