Date: Aug 17, 2018
BEIJING (Asian Metal) 17 Aug 18 – On August 16, Australian-based Neometals Ltd. announced that the Board has approved plans to demerge its Barrambie Titanium-Vanadium Project and associated technology assets into a new ASX-listed company (“NewCo”). The move will allow Neometals and NewCo to separately focus on development of their respective integrated lithium and titanium/vanadium strategies. Both companies will be targeting conversion of captive resources into long-life, higher margin operations through vertical integration and innovative cost advantages via process technology.
The proposed demerger will see Neometals continue to aggressively pursue development of multiple positions in the lithium supply chain. Neometals plans to maximize returns from its share of the Mt Marion Lithium Operations through the development of the Kalgoorlie Lithium Refinery Project, which will convert the Company’s lithium offtake rights into higher-value lithium hydroxide. Neometals will also continue to advance its Lithium Battery Recycling Project to recover lithium, cobalt and other metal by-products from the processing of off- specification and end-of-life batteries.
