The new Australian Lithium Alliance is a joint venture between Zenith, a mineral mining and exploration company, and EV Metals Group.
Australian Resources noted that the alliance will see them working together to unlock the lithium potential of its Split Rocks and Waratah Well projects that are located in Western Australia. In a statement, Zenith CEO Michael Clifford said that it also includes a nonexclusive right to bring in additional projects exploring lithium and EV metals to the joint venture by either party.
“The arrangement goes much deeper than just the joint venture on these two existing Zenith projects, Split Rocks and Waratah Well, with the parties also agreeing to jointly assess new lithium/ EV-metal opportunities throughout Australia where commercially appropriate to do so,” Clifford said.
“The new joint venture arrangement plays to the project generation strengths of the Zenith team, matching this up with the very strong commercial and engineering capability of the EVM group. The arrangement puts Zenith in a unique position to build a significant lithium business in conjunction with EVM.”
“The [alliance] is a strategic global initiative to secure the upstream integration of supply chains for critical raw materials required to fast track the development of the BCC in [Saudi Arabia],” EV Metals chairman Abdulla Busfar added.
Just Auto noted that EV Metals is developing the world’s first integrated “Battery Chemicals Complex” (BCC). The BCC is being developed at Yanbu Industrial City in Saudi Arabia and will produce high-purity chemicals that contain lithium, nickel, cobalt, manganese, and other metals needed for high-energy-density cathode active materials that are used in EV and renewable energy storage batteries.
EV Metals noted that it’s in a unique position with the development of two processing trains that initially require 330,000 tpa of spodumene concentrate that contains 6% lithium oxide to produce 50,000 tpa of lithium hydroxide monohydrate (LHM) in the plant at Yanbu Industrial City.
Michael Naylor, Managing Director of EV Metals also added his thoughts about the new joint venture. “Zenith is an ideal strategic partner for EVM and this is the logical first transaction for our wholly-owned subsidiary Australian Lithium Alliance, part of a broader strategic initiative we have launched alongside this transaction.”
Featured image courtesy of Zenith Minerals Limited
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