Lithium Australia sets sights on global Lithium recycling business
Lithium Australia has set its sights on building a global Lithium recycling business from discarded batteries as it looks to further capitalize on the Lithium battery boom that looks like it is here to stay.
The Perth-based Lithium Australia announced this week they were adding yet another string to their already diversified bow as the company looks to set up a Lithium recycling business from discarded Lithium-ion batteries. Lithium recycling from batteries is almost non-existent at the moment presenting a real opportunity for Lithium Australia to carve out a niche.
company said this week in a statement to the ASX they were targeting the recycling of technology metals, including Lithium, as part of their broader strategy of developing breakthrough, low-energy metallurgical processes.
The company said “lithium recovery is close to zero” with current recycling because of the preferred processing technology of the existing players in the industry.
The company said in its statement to the ASX “Lithium Australia will evaluate the logistic chain from ‘cradle to grave’ to determine the deportment of all components of Lithium ion batteries and develop a strategy to maximize the recovery of all materials used in the products at the end of their useful life.”
Lithium Australia Managing Director, Adrian Griffin, said “We see a lot of waste in the mining industry as a consequence of imposing high cut off grades to lithium deposits. This is not sustainable and Lithium Australia is developing the technologies to rectify the situation. We see the recycling of batteries in a similar light. Legislative changes, on a global basis, are likely to force industry into more responsible recycling programs and Lithium Australia is positioning itself to become part of the solution.”
The company added that whilst recycling created a more sustainable industry, it also reduced demand for metals from controversial sources.
“Much of the new cobalt supplied into the market, and used for the production of battery cathode, comes from war-torn nations and often involves a large component of child labour. Efficient recycling will never eliminate the use of ‘conflict’ metals, but it can ensure the reliance on such sources is diminished,” the company said.
The news coincided with a 16% surge in Lithium Australia ‘s share price to 18.5 cents, although more likely represents a delayed response to a string of positive news in recent weeks, including metallurgical testing at the highly prospective Electra project in Mexico, and the start of a trial of the company’s Sileach process on ore from the giant Pilgangoora Lithium deposit near Port Hedland.