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Neometals to Build New Lithium Refinery

A lithium miner called Neometals in Western Australia plans to build a new lithium refinery.

The downstream processing plant will create more than hundred jobs, according to ABC Australia.

The Kalgoorlie-Boulder City Council has agreed to let Neometals sub-lease a 40-hectare site in a new industrial estate in West Kalgoorlie. A final investment decision is due by the middle of 2019.

Currently, Neometals owns a 13.8% stake in the Mt Marion lithium mine, 40km south-east of Kalgoorlie-Boulder.

The Neometals plant is the fourth lithium refinery planned in Western Australia. The miner expects Kalgoorlie Lithium Refinery to have an initial production capacity of 10,000 tons of lithium hydroxide per year.

Neometals chief executive officer Chris Reed said the decision to build the refinery in Kalgoorlie-Boulder is judicious. This is because it is close to an established mining town and has access to power, water, and gas.

Mr. Reed also pointed out that the lithium from Mt Marion is used in Apple products.

In related news, the state government created a task force to capitalize on the surging demand for lithium.

The task force will be chaired by Mines Minister Bill Johnston. The team will engage with the sector to make the most of the booming lithium industry.

The ABC news report also claims that Tawana Resources CEO Mark Calderwood said the lithium boom could last for another decade.

Tawana Resources operates the Bald Hill lithium mine in the Goldfields.

Mr. Calderwood thinks that the government has the power to make Western Australia a hub for lithium products.  

According to Bloomberg New Energy Finance, transport will be the main driver of demand for lithium-ion batteries in 2018. They expect electric vehicles and e-buses to account for almost 90% of production.

About Neometals Ltd.

Neometals Ltd. is a Western Australian minerals project developer. It is capitalising on growth in the energy storage market by producing spodumene concentrate from its Mt Marion Lithium Project.

Neometals has also signed a memorandum of understanding (MoU) with Mt Marion co-owners to use lithium concentrate from their jointly-owned Mt Marion Project. They will produce a battery-quality, lithium hydroxide product.

Company Spotlight – American Lithium Corp.
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