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Lithium Australia’s 24% subsidiary Envirostream confirms offtake deal with Korean battery recycler

Lithium Australia NL (ASX:LIT) managing director Adrian Griffin updates Proactive on the company’s 24% subsidiary Envirostream Australia Pty Ltd signing an MoU with South Korean company SungEel HiTech Co Ltd.

SungEel recovers critical energy metals from LIB scrap and has become one of the world’s largest battery recyclers.

This company has agreed that Envirostream will have exclusivity of mixed metal dust (MMD) supply from Australia.

Envirostream is the only company in Australia with the integrated capacity to collect, sort, shred and separate all the components of spent LIBs.

Quick facts: Lithium Australia NL

Price: 0.055 AUD

ASX:LIT
Market: ASX
Market Cap: $43.24 m
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