(NewsDirect)
Lithium Australia(ASX:LIT) CEO and Managing Director Simon Linge sits down withProactive’s Elisha Newell to discuss a new deal with Korean partnerSungEel HiTech Co. to facilitate mixed metal dust (MMD) salesoverseas. A recently inked memorandum of understanding seeks toformalise the relationship between the two entities, paving the wayfor SungEel to offtake ‘black powder’ — a material-richrecycling byproduct that can be brought back into the batteryproduction chain. Linge says offtake agreements are key to LIT’srecycling mission, with scope for a relationship like this to evolveinto a joint development agreement with SungEel down the line.
Linge told investors onThursday: “Signing MMD offtake agreements is critical to LithiumAustralia’s strategic roadmap, as it demonstrates the company’sability to secure additional MMD customers as the collection volumesof LIBs continues to scale.”
"The MoU signed with SungEel is very excitingfor the growth of the company’s recycling operations.
“SungEel is a global leading batteryrecycler with hydrometallurgical capabilities, which requires MMD asan input material for the extraction of high-purity batterymaterials,” he concluded.
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Proactive Investors
JonathanJackson
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