Lithium Australia enjoys strong growth in battery recycling | News Direct

Lithium Australia enjoys strong growth in battery recycling

Lithium Australia Ltd
News release by Lithium Australia Ltd

facebook icon linkedin icon twitter icon pinterest icon email icon Melbourne, Victoria | August 01, 2023 03:00 PM Eastern Daylight Time

Lithium Australia Ltd (ASX:LIT, OTC:LMMFF) CEO Simon Linge gives Proactive a recap on its June quarter highlights. 319 tonnes of mixed batteries were collected during the period, with a record total of 1,347 tonnes for FY23, representing an increase of 24% on FY22. He says due to strong market demand, the development plan for LFP production has grown from targeting a 200-300 tpa capacity plant to a 2,000-3,000tpa plant. Meanwhile Linge also says commercial discussions are progressing with leading Australian entities regarding its disruptive lithium extraction technology LieNA®

As at June 30, 2023, the company has a strong balance sheet with cash and listed investments of A$15 million and no debt.

The company has prioritised cost savings and implemented key measures, including the recent closure of a Melbourne recycling site and consolidation of the Perth office.

Lithium Australia has also restructured its executive leadership team, with a clear focus on defining roles and responsibilities to maximise the core capabilities within the team.



Contact Details


Proactive Investors


Jonathan Jackson


+61 413 713 744

project media


Lithium Australia LtdminingAsxproactiveAustraliaproactiveInvestors