Lithium Australia to divest of graphite assets
PERTH (miningweekly.com) – ASX-listed Lithium Australia would divest of its five Western Australian graphite projects to focus on its lithium assets.
The junior company on Tuesday told shareholders that, since 2014, the company had been working to acquire a pool of assets covering both lithium and graphite after finding that both commodities would be high-demand materials for the lithium battery market.
However, in the two years since, the company’s business plan was implemented to advance the development of low-energy processing technologies for lithium extraction from silicates.
“In the past two years, Lithium Australia has developed an extensive lithium portfolio to support our processing ambitions but, while we were doing so, we were cognisant of other raw material requirements for battery and associated clean energy technologies,” said Lithium Australia MD Adrian Griffin.
“Of the cleantech raw materials, graphite in particular was in our sights as we built our lithium asset base; this dual focus enabled the company to identify and acquire a number of areas with high graphite potential.”
Griffin said that, to maintain the company’s lithium focus, Lithium Australia would now divest of its graphite portfolio.
The returns generated from the sale of the assets were currently intended to be distributed to shareholders, subject to the required approvals.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation