Neometals Shares Rise on Positive Nickel-Sulphate Production Trial Results

Shares in Neometals have surged by 11% following the announcement of positive results from the nickel-sulphate production trial conducted by their lithium-ion battery recycling joint-venture, Primobius.

As of 1200 GMT, shares are currently up 1.5 pence, trading at 15.00 pence.

Neometals, a mining company listed in both London and Australia, revealed on Wednesday that these results further validate the marketability of the plant. The project, which will be developed in collaboration with their joint-venture partner SMS Group, is set to be built soon.

In addition to the successful lithium recovery tests conducted last month, the final key product that will undergo testing is cobalt sulphate. This trial is expected to be completed within the current quarter, according to the company.

Primobius, a 50-50 joint venture between Neometals and Germany's SMS Group, aims to cater to customers seeking to recycle their own lithium-ion batteries. By doing so, these customers would not only fulfill regulatory and supply chain requirements but also have the capability to produce critical battery materials at potentially lower operating costs than competitors in the industry.