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LONDON (Alliance News) - European Metals Holdings Ltd on Tuesday said it has produced battery-grade lithium carbonate from the Cinovec project in the Czech Republic, confirming the project can take advantage of growing demand for lithium from the battery sector.
Lithium and other commodities such as graphite are expected to experience soaring demand over the next few years as developments in electric cars and energy storage begin to fuel a rising need for the supply of battery ingredients.
Cinovec holds the largest lithium resource in Europe, making it a strategically important project and a vital supply for the continent. London-listed Rare Earth Minerals PLC also holds a 20.76% interest in European Metals and released its own statement Tuesday confirming the development.
European Metals said it has successfully manufactured 99.5% pure lithium carbonate using a proven technique.
"The roasting flow-sheet reflects a simplified version of the well-proven technology that converts spodumene concentrate to lithium carbonate. Numerous lithium carbonate plants currently employ this technology internationally," the company said.
High roast recoveries of 87% were achieved and the process costs have been reduced after a key reagent was recycled during the process. "Minimal" leaching of impurities resulted in simpler precipitation of battery grade lithium carbonate, European Metals said.
"This is a major milestone in the development of the Cinovec project and we are delighted with the results. We have now produced battery grade lithium carbonate via a second process route. This follows the successful production of battery grade material via acid leach during the scoping study last year," said Managing Director Keith Coughlan.
"These results follow the previous success of the project team in developing a robust, simplified flow-sheet for beneficiating the run-of-mine ore to produce a lithium mica concentrate using high intensity wet magnetics," he added.
Attention now turns to the pre-feasibility study for Cinovec and that is expected to be finished by the end of March 2017. In addition, European Metals said it is preparing samples to send off to potential offtake customers so they can evaluate whether the product from Cinovec would be of interest.
European Metals shares were down 1.2% to 36.58 pence per share on Tuesday morning while Rare Earth shares were up 3.6% to 0.518 pence.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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