6th Jan 2023 11:28
(Alliance News) - Neometals Ltd on Friday said its half-owned joint venture firm Primobius GmbH and Stelco Holdings Inc agreed to terms extension for the technology licence and lithium-ion battery recycling joint venture option agreements.
Neometals, a West Perth, Australia-based sustainable battery materials producer, said the Stelco 'Spoke' plant supply agreement and option exercise decision timelines were adjusted to align with the completion of the 'Hub' engineering cost study in June 2023, or therearound.
"The Stelco special purpose vehicle plans to process lithium-ion batteries from end-of-life vehicles in North America that Stelco secures for its scrap steel requirements. Its first...integrated lithium-ion batteries recycling operation is planned to be located at Stelco's former Hamilton Works outside Toronto, Canada," Neometals said.
Neometals shares were 5.2% higher at 49.46 pence each in London on Friday morning.
By Tom Budszus, Alliance News reporter
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