Advanced materials group Neometals (ASX: NMT) has reported ‘robust’ economic outcomes from a scoping study of a lithium-ion battery recycling plant proposed for Kwinana south of Perth.
The company has been testing its processes for recycling batteries based on lithium cobalt oxide (LCO) and nickle-manganese-cobalt battery types at its pilot plant in Canada.
Now Primero Group has studied potential operating and capital costs for a Kwinana plant while financial modelling was undertaken by Azure Capital.
The scoping study found an 18,263 tonne per annum plant would cost $92 million to build and generate revenue of $1.2 billion from recovered minerals and chemicals over ten years.
Neometals managing director, Chris Reed said the next step was to complete project de-risking in the pilot plant and conduct a full scale feasibility study.
Reed said: “We have invested in a true ‘recycling’ solution rather than a base metal recovery process.
“It has been engineered for real world conditions and recovers multiple high-purity chemical products from an array of battery chemistries.”
The feasibility study is planned for completion in the 2019/20 financial year.
Neometals is considering a number of potential business models including licensing to third parties or to construct plants and act as a service provider.
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