Mineral Resources and Livium seal lithium processing joint venture
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The news: Mineral Resources has formed a 50-50 joint venture with ASX small cap Livium, to commercialise Livium's patented lithium processing technology LieNA.
The numbers: MinRes and Livium each hold a 50% interest in the joint venture, named LieNa, which wholly owns the patented technology. The partnership seeks to licence the LieNa technology to third parties at a target gross product royalty rate of 8%.
MinRes shares were up 9.9% to $37.36 at 11:10am AEST, as Australian lithium companies surged following news of a production halt at CATL's Jianxiawo lithium mine.
The context: Livium said the joint venture intends to initially licence the LieNa technology to a semi-commercial facility, which MinRes can elect to independent fund, develop and operate. The plant will aim to extract lithium salt at a commercial scale under the licence.
What they said: "We are incredibly pleased to formalise our joint venture position with MinRes following successful completion of targets we set together two years ago," said Livium CEO and managing director Simon Linge.
MinRes commented: "We firmly believe the technology has a role to play in the future of lithium processing and are focused on working together to convert the strong technical delivery achieved to date into commercial outcomes".
The source: ASX
