Neometals poised to move on battery recycling market

Metals technology group Neometals appears poised to enter the European battery recycling market following the successful conclusion of its pilot plant technology proving phase.

The company announced the completion of trials at its Canadian pilot plant on Thursday, and plans to move ahead with a European demonstration plant in partnership with Germany’s SMS Group.

It said the parties were furthering their plans to enter a joint venture to commercialise Neometals recycling technology which removes cobalt and other valuable metals from spent lithium-ion batteries.

Neometals managing director Chris Reed said the company was expecting a decision on a proposed joint venture with SMS Group by the end of April.

On Friday the company asked for a halt to trading, a move which usually comes before a major company announcement.

Reed said: “We have proven that we have a solution to meet the lithium-ion battery supply chains need for a safe, environmentally friendly recycling process.

“(It) can reduce reliance on imported mineral feedstocks and satisfy increasing regulatory and stakeholder demands for sustainable and ethical raw material supply chains.

“We are looking forward with our partner to commercialise this asset.”

The company’s pilot plant treated 2.3 tonnes of spent batteries, recovering nickle and cobalt in a first stage and lithium in a later stage.

The remaining solution was ammonium sulphate with minor impurities.

“Objectives were met and surpassed, no fatal technical flaws arose and the company now has the data to commence feasibility-level studies and proposed demonstration trials.”

Picture: Neometals

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