Lithium Australia NL (ASX: LIT), an Australian Stock Exchange Listed raw material recycler, announced on 20th May 2019 that it has generated lithium phosphate from waste materials successfully, by using its trademarked SiLeach® process. The company also developed a simple and effective way of removing impurities from the lithium phosphate together with ANSTO, which provides the company with a high-purity refined product.
Lithium-ion batteries (LIBs) require high-purity products as high-purity is suitable for the manufacturing of LIBs with focus on lithium iron phosphate (LFP) chemistry. The company was successful in producing the lithium iron phosphate chemistry batteries from unrefined lithium phosphate generated using its 100% owned SiLeach ® on 21st November 2018 and developed a process for refining the lithium phosphate to ensure consistency of quality to produce high-performance lithium iron phosphate chemistry-based batteries.
The company tested the high-purity refined lithium phosphate-based batteries at its wholly owned VSPC cathode powder pilot plant in Brisbane, Australia. LIT used these refined lithium phosphates to manufacture the cathode powder and lithium iron phosphate-based coin cells. The LFP Coin cells were then further put for a standard testing regime, and the company compared the outcomes of the testing against the industry benchmark and its wholly owned subsidiary- VSPC’s most advanced cathode powders.
The comparative results revealed that the refined lithium phosphate makes an ideal constitute for the manufacturing of lithium iron phosphate chemistry based high-performance powders.
Lithium Australia mentioned that the company is confident that lithium iron phosphate products produced using the lithium phosphate, further refined with the joint process developed by the company and ANSTO will have significant advantages against the products, which use the conventional carbonate and hydroxide combination of lithium.
As per the Managing Director of the company, Adrian Griffin, the refining process is cost effective and eloquent, which in turn, provides the company with a high-material quality with consistency. Mr Griffin mentioned that the refining process is of paramount importance to the company as it is now working with the leading Chinese battery producer- DLG for the selling of lithium-ion batteries in Australia and to further develop the company’s cathode powder.
The company recently presented its 121 Singapore Conference presentation and explained the business division of the company.
Source: Company’s Report
In the business model, Lithium Australia mentioned that the company capitalizes on the waste of others, and it processes lithium minerals with low energy footprints. The company holds two proprietary refining processes; one is SiLeach ® for lithium minerals micas and phosphates and LieNA® for spodumene and petalite.
As per the company, Western Australia spodumene concentrate production will eclipse 5 million tonnes per annum notionally, which will make around 2-3 million tonnes per annum of spodumene fines for LieNA ®.
The development plan of the company for the year 2019 includes:
Source: Company’s Report
The shares of the company were trading at A$0.086 (as on 21st May 2019, 12:35 PM AEST), down by 3.371%. The company has a market capitalization of A$42.64 million, with circa 479.13 million shares outstanding.
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