PERTH (miningweekly.com) – ASX-listed Lithium Australia has completed the acquisition of mixed battery recycling company Envirostream.
The company in February struck an agreement to acquire the final 10% interest in Envirostream from its MD Andrew Mackenzie for A$250 000, following its 2019 acquisition of a 90% stake in the company.
"By acquiring the final 10% of equity in Envirostream, the company now has full ownership of this strategic asset,” said Lithium Australia MD Adrian Griffin.
"As Australia’s only Environmental Protection Authority-permitted and licensed recycler of mixed batteries, including lithium-ion batteries, Envirostream is well-placed to keep spent batteries out of landfill while providing as much sustainable feed material as possible for the manufacture of new lithium-ion batteries. This is particularly important in the current climate of supply shortages and surging prices for battery minerals.
"To meet surging demand, Envirostream is also planning to expand its activities into key population centres on Australia’s east coast, as well as offshore. I look forward to keeping you abreast of these activities as they eventuate,” said Griffin.