9th Sep 2014 07:47
LONDON (Alliance News) - Rare Earth Minerals PLC Tuesday noted that Western Lithium USA Corp, in which it has a shareholding, has announced its 12 tonne-per-day calcination demonstration plant in the US state of Nevada is now in production.
Rare Earth said the product will be shipped to Western Lithium's demonstration crystallisation and precipitation plant, due to be operation in November this year, with lithium compound production from the demonstration plant due to start by the end of the year.
Rare Earth said Western Lithium is set to include a lithium hydroxide circuit, alongside the planned production of lithium carbonate, in order to meet potential new industry requirements.
Rare Earth holds a 2.3% stake in Western Lithium.
Kiran Morzaria, chief executive of Rare Earth Minerals, said the company "is pleased with Western Lithium's progress towards the commercial production of lithium compounds from their Kings Valley Lithium Project in Nevada, the USA state where Tesla Motor Corporation have recently announced their intention to build their first lithium-ion Gigafactory".
Rare Earth shares were down 2.2% to 1.49 pence in early trade on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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