Page 167 - CW E-Magazine (3-9-2024)

News from Abroad

ful lithium conversion facilities as well with our development strategy,” GTM’s definitive feasibility study to reach a final
as nickel precursor and cathode active Managing Director Mr. Cameron Henry investment decision on the Seymour
material facilities globally. Their global said. lithium project, funding the lithium con-
scale and expertise in manufacturing and version facility pre-feasibility study and
supplying battery-grade lithium chemi- EcoPro is providing GTM with finan- supporting general working capital.
cals will greatly benefit GTM as we cial backing via a subscription agreement,
advance our integrated strategy in North whereby the South Korean company will EcoPro will also be granted the exclu-
America. This investment and partner- subscribe for $8-mn in GTM shares over sive right to enter into binding agreements
ing strategy now paves the way, both two tranches. Proceeds from the sub- to acquire an interest in either or both of
financially and technically, to continue scription agreement will be allocated to a GTM’s Root and Seymour projects.

PROJECT UPDATE
Sibanye-Stillwater gets green funding push for Keliber

lithium project

Multinational metals and min- guaranteed tranche, a €150-mn tranche tee covering 80% of the €250-mn
ing company, Sibanye-Stillwater, has provided by the European Investment ECA tranche.
bagged a €500-mn ($556-mn) green Bank (EIB) and a €100-mn syndicated
loan for its Keliber lithium project in commercial bank tranche. The proceeds will be used to com-
Finland, through its subsidiary Keliber plete the development of the Keliber
Technology Oy. The Keliber lithium project aims to lithium project, with a total capital
produce electric vehicle (EV) batteries expenditure of €667-mn adjusted for
This is the final funding required for for the European market. The share- inflation. Approximately €250-mn
the construction and development of its holders are Sibanye-Stillwater (79.8%) was previously raised through equity
lithium mining, processing and refining and the state-owned Finnish Mine- finance.
facilities in Kaustinen, Kronoby and rals Group (20%), with the remainder
Kokkola, Finland respectively. owned by a small group of Finnish The loan also represents a signi-
investors. ficant injection of capital for Sibanye-
The green loan is a distinctive credit Stillwater, following its recent restruc-
facility, comprising a bank financed Finnish state-owned financing com- turing in South Africa, where the com-
€250-mn Export Credit Agency (ECA) pany Finnvera has provided a guaran- pany is headquartered.
MTM Critical Metals develops novel lithium extraction

technology with flash joule heating

Australia’s MTM Critical Metals energy savings up to 75% compared breakthrough validates the disruptive
has unveiled a major breakthrough in to traditional methods. “This deve- potential of our Flash Joule Heating
lithium refining with its innovative lopment has the potential to transform technology. The ability to convert
Flash Joule Heating (FJH) technology. the lithium extraction industry, offering spodumene, a highly refractory mine-
significant reductions in costs, energy ral, directly to lithium chloride in a
This new method allows for the use, and environmental impact,” the single step, without the use of acids,
direct conversion of spodumene con- company said. is a game-changer for the industry.
centrate into lithium chloride (LiCl) By eliminating two major fossil-fuel-
in a single, acid-free operation. MTM said it is in discussions with dependent kiln processes and removing
Preliminary results indicate poten- major chemical and mining companies the need for significant acids and
tial savings in capital expenditure to further develop and commercia- chemical reagents, we are fundamen-
(CAPEX), operational expenditure lise this technology. MTM’s CEO tally disrupting the status quo in lithium
(OPEX), and CO emissions, with Mr. Michael Walshe commented, “This production.”
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Chemical Weekly September 3, 2024 167

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