25.3 C
Belgrade
Supported byspot_img
spot_img

Lifezone Metals Announces Joint Venture with Glencore to Recycle Platinum, Palladium and Rhodium in the USA

Member of Europium Groupspot_img
Supported byspot_img

Lifezone Metals Limited is a modern metals company that creates value across the battery metals supply chain from resource to metals production and recycling. Lifezone Metals’ Chief Executive Officer Chris Showalter announced the signing of a term sheet with a subsidiary of Glencore plc for a platinum, palladium and rhodium (collectively platinum group metals or “PGMs”) recycling project utilizing Lifezone Metals’ hydrometallurgical technology to be based in the USA.

Phase 1 confirmatory piloting work has commenced in Perth, Australia using Hydromet to process and recover PGMs from responsibly sourced spent automotive catalytic converters.

Mr. Showalter stated: “By applying our Hydromet technology, we aim to responsibly recover platinum, palladium and rhodium from recycled sources in a cleaner and more efficient manner than otherwise possible through traditional smelting and refining. Following our acquisition of Simulus Labs in July, where we acquired the preeminent hydrometallurgical testing and engineering design group, we gained the capability to simultaneously advance our Kabanga Nickel Project through the continuing Definitive Feasibility Study while also investigating other important applications of our core Hydromet technology.”

Supported by

Mr. Showalter continued: “In Glencore, we have a world class partner with exceptional market reach to help position our USA recycling joint venture favorably with respect to financing and marketing of finished PGMs. We expect our confirmatory pilot program to further validate our Hydromet capabilities and demonstrate that we can also generate favorable economic returns from PGM recycling. Further, the facility we intend to build is highly replicable and scalable, which is important given the very large and rapidly growing addressable market we expect in the years ahead.”

Highlights of the PGM Recycling Joint Venture with Glencore

Term sheet signed by Lifezone Metals and Glencore for the two-phased implementation of a recycling joint venture to recover PGMs from spent automotive catalytic converters. The joint venture will be domiciled in the USA.

The goal of the joint venture is to profitably deliver high purity, refined PGMs from 100% recycled sources.

Lifezone is providing its Hydromet technology for Phase 1 confirmatory piloting and design of the recycling facility. Test work is underway at Lifezone Metals’ laboratories in Perth, Australia and is expected to be complete in the first half of 2024.

The Phase 1 confirmatory pilot project costs are expected to be $3 million. Initial capital costs for the Phase 2 commercial-scale recycling facility in the USA are expected to be ~$15-20 million for a ~115,000 oz per year PGM recycling facility.

Glencore will provide a working capital facility for the Phase 2 commercial-scale recycling facility and will be the sole offtaker and marketer of the refined PGMs.

Phased Implementation Plan for the Joint Venture

Phase 1

Lifezone Metals has commenced a confirmatory program of pilot test work at Lifezone Metals’ laboratories in Perth, Australia. The confirmatory program will be jointly funded by Lifezone Metals and Glencore. Based on pilot test results, a feasibility study will be completed to outline the expected PGM recoveries, capital and operating expenditures and expected project economics. A decision to proceed to Phase 2 will depend on the results of Phase 1 confirmatory pilot test work and the outcomes of the feasibility study.

Phase 2

Following successful completion of Phase 1, Lifezone Metals and Glencore will jointly fund the initial capital expenditures required to construct a commercial-scale PGM recycling facility.

Through the use of Lifezone Metals’ Hydromet technology, the recycling facility will be one of the first non-smelted PGM recycling operations globally and will demonstrate at commercial-scale a faster, more efficient and less emissions-intensive method of recycling PGMs.

Glencore will provide a working capital facility for the recycling facility and will apply its marketing expertise in respect of 100% of the recycled PGMs.

 

Source: Lifezone Metals

 

Supported byElevatePR Digital

Related News

Renewable energy boom spurs demand for copper and critical minerals: Emphasizing responsible mining

The global push towards renewable energy is set to significantly increase demand for critical minerals and metals such as lithium, copper, manganese and rare...

Euro Manganese advances with successful commissioning of high-purity manganese facility

Euro Manganese Inc. has successfully completed the commissioning of its high-purity manganese Demonstration Plant at the Chvaletice Manganese Project in the Czech Republic. This...

Geopolitical struggle over Central Asia’s rare-earth reserves

Central Asia, encompassing Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan, Afghanistan and Mongolia, holds vast untapped reserves of rare-earth minerals. Recent global developments have thrust these...

Guatemala revokes environmental license for Canadian-backed open-pit mine

The Guatemalan government has revoked the environmental license for a proposed open-pit mine near the border with El Salvador, citing multiple "anomalies," including forged...
Supported by
Supported by
Supported by
error: Content is protected !!