Lithium Australia signs landmark deal with Mineral Resources
Melbourne, Victoria
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August 07, 2023 12:15 PM Eastern Daylight Time
Lithium Australia Ltd (ASX:LIT, OTC:LMMFF) CEO Simon Linge speaks with Proactive soon after the company entered a joint development agreement with leading ASX-listed mining company Mineral Resources Ltd. MinRes will solely fund the development and operation of a pilot plant up to a total budgeted cost of A$4.5 million and provide raw materials for the pilot plant at no cost to Lithium Australia, with Lithium Australia to contribute its LieNA® technology.
Subject to the pilot plant results, MinRes and Lithium Australia will form a 50:50 joint venture to own and commercialise the LieNA® technology through a licensing model.
“We are thrilled by the formation of a new partnership with Mineral Resources, one of Australia’s largest and most prominent mining companies. MinRes is the perfect partner to complement our leading lithium extraction technology, given its extensive owned operations and strategic movement downstream into the battery materials sector,” Linge said.
“Securing a development partner is also noted as a significant step within Lithium Australia’s recently released roadmap and serves as a powerful validation of our patented technology. We are excited by the future opportunity to licence our proven high- value technology to all existing and new lithium mines across Australia and the rest of the world.”
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Proactive Investors
Jonathan Jackson
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