15th Aug 2022 13:03
Alkemy Capital Investments PLC - London-based company focused on acquisitions in the mining and technology metals sectors - Wholly owned subsidiary Tees Valley Lithium Ltd enters memorandum of understanding with Weardale Lithium Ltd to create a lithium supply-chain in the north east of England.
Tees Valley will refine high-value lithium feedstock and produce battery-grade lithium hydroxide monohydrate for the UK and European markets. The lithium will come from underground brines in Weardale, County Durham.
"Weardale Lithium is developing a potential domestic resource of sustainable "green" lithium from naturally occurring geothermal brines to support the rapidly expanding electric vehicle supply chain in North East England, as well as the wider automotive industry in the UK. Supply of domestic lithium is of strategic importance to the UK in achieving its net-zero ambitions and production of high-value batteries for electric vehicles in the auto-manufacturing sector," company says.
Current stock price: 120.00 pence, down 4.0% on Monday
12-month change: up sharply from 60.00p
By Paul McGowan; [email protected]
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