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.
The Impact of WeWork's Bankruptcy on the Office Sector
Our Latest News
PBF Energy's Refinery Maintenance Update
PBF Energy provides insights into the ongoing maintenance projects at their Torrance and Martinez refineries in California, including details on the flexicoker...
Sealed Air: Outlook for 2024
Sealed Air, known for Bubble Wrap, is projected to achieve mid-single-digit growth in 2024 thanks to cost-saving measures and a revival in sales volume. Other f...
Rising Oil Futures Reflect Concerns Over Tight Supplies
The article discusses the rising price of oil futures due to concerns over tight supplies, as well as the potential for a pullback in the market. It also provid...