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Neometals Ltd.
Summary
| Project: | Mt Marion | |
|---|---|---|
| Deposit: | Mt Marion | |
| Location: | Australia | |
| Commodities: | Lithium | |
| Date: | 7/11/2016 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 11-7-2016: Neometals Ltd. announces a Feasibility Study report for its Mt Marion deposit at the Mt Marion project. JV with Mineral Resources Ltd. - study on producing lithium hydroxide using ELi Technology. Joint venturers Neometals Ltd (ASX: NMT) and Min | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | Joint venturers Neometals Ltd (ASX: NMT) and Mineral Resources Limited (ASX: MIN) have taken a major step towards commercialisation of their patented ELi Process that could see low cost battery grade lithium products produced from spodumene concentrate sourced from the Mt Marion Project near Kalgoorlie. Results of a Feasibility Study (‘FS’), following a positive Prefeasibility Study in 2012, have confirmed the proposed production project is technically feasible and economically viable. The ELi Process converts spodumene concentrate into a high purity lithium chloride solution, then uses electrolysis to produce high purity lithium hydroxide and lithium carbonate, both high value products used in the lithium ion battery industry. The technology is owned and being developed by Reed Advanced Materials Pty Ltd (RAM), which is 70% owned by Neometals and 30% owned by MIN. The FS evaluates an operation to produce 20,000tpa of lithium carbonate equivalent (‘LCE’) battery grade lithium hydroxide and lithium carbonate by conversion of spodumene concentrates at a proposed plant in Malaysia. The FS incorporates an Engineering Cost Study (‘ECS’) with technical, engineering and economic assessments carried out by the subsidiary of the German‐owned EPC contractor M+W Group, M+W Group (Singapore), to provide capital and operating cost estimates to an accuracy of ±15%. Neometals and MIN have rights to deploy the ELi Process and to purchase spodumene concentrates from Mt Marion to secure the supply chain for an ELi processing plant. The FS confirmed the potential for a viable, profitable new business using the ELi Process. Neometals and MIN believe that the ELi Process provides a key competitive advantage with lower capital and unit operating costs when compared to current industry averages using conventional technology. | |
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