Lithium Australia signs joint development agreement with Mineral Resources
Lithium Australia, the ASX-listed advanced lithium producer, has signed a joint development agreement with Mineral Resources (MinRes), one of the leading ASX-listed mining companies. The merger is related to the LieNA technology, a disruptive lithium extraction method. MinRes has agreed to completely fund a pilot plant, a technology that has the potential to improve lithium extraction yields by up to 50% over current market performance. The development has been budgeted at AUD 4. 5 million and will be wholly funded by MinRes. Lithium Australia will be providing the LieNA technology as a contribution.
Joint venture plans with the LieNA technology
Following the results of the pilot plant, Lithium Australia and MinRes will create a joint venture, under the guidance of a licensing model to own and commercialise the LieNA® technology.
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The companies are planning to license the LieNA technology to third-parties at a target headline gross product royalty rate of 8%. The royalty model expands Lithium Australia’s market as it may apply to all the tonnages processed.
Lithium Australia has noted the significance of MinRes’ operations in lithium and mining services across Western Australia, as well as its market value of AUD 13. 6bn. The companies will explore target jurisdictions for licensing, including Australia, North America, Europe, and Africa. If the pilot study is successful, the larger plant will aim to extract lithium salt at a commercial scale under the licence.
Comment from Lithium Australia Chief Executive Officer, Simon Linge
“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. 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. "
Significance of the development
The development is significant for Lithium Australia with extensive benefits in the mining sector, improving efficiency, sustainability, and profitability. The joint venture with MinRes will result in mutually beneficial and high-value outcomes, benefiting both companies.
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