Mineral Resources (MinRes) and Lithium Australia has signed a joint development agreement to further develop a potentially game-changing lithium extraction technology.
MinRes will invest up to $4.5 million to support the creation and operation of a pilot plant and an engineering study for a demonstration plant and raw materials supply.
In a statement, Lithium Australia claimed its LieNA technology has the potential to increase lithium extraction yields by up to 50% over current market performance.
MinRes and Lithium Australia will create a 50:50 joint venture to own and commercialise the LieNA technology under a licencing model, subject to the outcomes of the pilot plant.
MinRes has the option under the licence agreement with the joint venture to solely fund, construct, and operate a demonstration scale plant aimed at extracting lithium salt on a commercial scale.
MinRes Chief Executive Lithium Joshua Thurlow stated that Lithium Australia’s LieNA technology has the potential to significantly improve lithium extraction efficiency from hard rock mines.
“Our preliminary testing with Lithium Australia has yielded promising results and warranted this investment to further develop the technology,” Thurlow said.
“The goal is to fast track the commercialisation of LieNA to drive efficiencies and initially extract more value from our two world-class lithium operations in Western Australia,” he added.
Lithium Australia Chief Executive Officer Simon Linge commented, “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.”
