Lithium ion battery materials group Lithium Australia and Mineral Resources (MinRes) will form a joint venture to commercialise the LieNA process to recover lithium from hard rock spodumene ores.
The news comes after Lithium Australia completed the final stage of LieNA piloting activities at the Australian Nuclear Science and Technology Organisation (ANSTO) which commenced in June 2024.
The company also successfully made its fourth drawn down of $1.2 million from the convertible note issued by MinRes as part of a joint development agreement.
Under the Agreement, a key milestone in LieNA piloting was the production of lithium phosphate derived from spodumene concentrate provided by MinRes.
The lithium phosphate produced is now being analysed to determine the final product specifications in preparation for refining – analysis and associated refining is expected to be completed by the end of 2024.
Lithium Australia CEO and Managing Director Simon Linge said: “Lithium Australia and MinRes are now focused on finalising the engineering study for the LieNA demonstration facility, which is on track for completion in 2024.
“The strong progress made this year highlighted Lithium Australia and MinRes’ ongoing commitment to the commercialisation of the unique LieNA technology.”
The fourth drawdown from MinRes takes the total drawn to $4.2 million from the $4.5 million convertible note.
The draw down will be used to fund ongoing activities as well as the demonstration plant engineering study, which is being delivered by Carnac Project Delivery Services and remains on track for completion in 2024.
Subject to the results of product analysis and engineering study, Lithium Australia and MinRes will form a 50:50 JV to commercialise the LieNA technology through a licensing model.
Further reading:
Lithium Australian begins LieNA process pilot plant
Picture: Lithium Australia