Lithium Australia signs new battery deal with LG Energy Solutions
PERTH (miningweekly.com) – ASX-listed Lithium Australia on Wednesday announced that its wholly-owned subsidiary Envirostream Australia had signed an agreement with LG Energy Solutions (LGES) to process at least 250 t of lithium-ion batteries.
Under the terms of the agreement, LGES will deliver the lithium-ion batteries to Envirostream’s facilities in Melbourne for processing until the end of August 2023, after which the term would continue on a rolling six-month basis until terminated by either party.
Envirostream recycles more than 90% of a lithium-ion battery into its core components which includes steel, copper, aluminium and most significantly the critical battery metals which are amalgamated into a mixed metal dust (MMD). The recovered MMD allows the active metals to be repurposed into new lithium-ion battery anode and cathode powders.
“Making these batteries available to Envirostream for recycling demonstrates LGES's commitment to our shared vision. Envirostream have been recycling LGES batteries since 2018 and it is very pleasing to see LGES commit to Envirostream as its Australian battery recycling partner for these new volumes. We would like to thank LGES and look forward to our continued collaboration,” said Envirostream GM Andrew Mackenzie.
Battery collection volumes at Envirostream during the 2022 financial year totalled 1 086 t. The company told shareholders that the additional 250 t from LGES represent 23% of 2022 collections.
The company expects a significant increase in processing volumes for 2023 relative to 2022 as a result of this agreement.
Since the end of the 2022 financial year, Envirostream has observed continued increases in collection volumes. Approximately 100 t of batteries were collected in July 2022, higher than that achieved in June 2022 and May 2022. A monthly collection rate of 100 t equates to an annualised rate of 1 200 t/y.
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