Lithium production technology developer Lithium Australia and miner Mineral Resources will together develop Lithium’s LieNA extraction technology.
The two companies consented to a joint development arrangement that will see MinRes exclusively development of a pilot plant to cost up to $4.5 million and give raw components to test the clever technology.
Lithium Australia CEO Simon Linge said, “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.”
Following that, the companies intend to form a 50:50 joint venture to own and market the LieNA technology under a licensing model.
The JV will at first permit the innovation to a bigger demonstration plant that MinRes can choose to freely fund, develop and operate.
Subject to the result, the companies intend to permit the innovation to different companies- a royalty of eight percent for third-party utilisation of the technology is imagined.
“Securing a development partner…serves as a powerful validation of our patented technology,” said Linge.
Lithium Australia has been working with ANSTO Minerals to take care of the lithium area’s concerns about separating lithium from fine-spodumene metals.
Supported by a Cooperative Research Centre Project award, the company has recently reported a pilot plant testing the burning review of spodumene – basically it creates a stage change in the arrangement as opposed to a heater in traditional cycles.
Subject to the consequences of the most recent joint pilot plant testing, the LieNA innovation will apply to MinRes’ current and future tasks – the company is a major lithium player with a market capitalisation of $13.6 billion and revenues of $3.4 million.
As per Lithium Australia, the LieNA innovation improves lithium extraction yields by up to 50 percent.