Lithium Miner Eyes Even Greater Riches in Piles of Battery Waste

Lithium Miner Eyes Even Greater Riches in Piles of Battery Waste

Lithium Miner Eyes Even Greater Riches in Piles of Battery Waste

Recycling lithium material from used electric vehicle batteries promises to be even more profitable than mining the increasingly valuable metal, according to an Australian producer building a test facility in Canada. Perth-based Neometals Ltd. is working to recover raw materials including lithium, cobalt, nickel and copper from expired batteries at a facility in Montreal, aiming to add production from recycling to its existing output from mining. “What we are hoping to prove in the pilot plant is that it does provide a better net margin,” Chief Operating Officer Mike Tamlin said in a phone interview. “The numbers look far and away better than if you are doing a primary extraction from an ore.â€.

Companies now looking for electric battery metals in the garbage

Soaring cobalt and lithium prices are not just spurring an exploration frenzy as more and more companies want a piece of the attractive batteries metals pie, but they are also pushing some companies to look for them where others have not. Australian Neometals, which is building a plant to recover raw materials including lithium, cobalt, nickel and copper from expired batteries in Canada, is one of those firms.

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