The Conversation (0)
December 18, 2022
Lithium Australia NL (ASX: LIT) (Lithium Australia or the Company) is pleased to advise that its wholly owned subsidiary, VSPC Pty Ltd (‘VSPC’), has completed an engineering study for a pre-qualification pilot plant (‘PQPP Study’) to satisfy customer offtake requirements by increased sample volume requirements above VSPC’s current facility capacity. Assessment of a pre-qualification pilot plant (‘PQPP’) development is an essential step towards the commercialisation of at least a 10,000 tpa lithium ferro phosphate (‘LFP’) manufacturing facility using nano technology developed by VSPC.
HIGHLIGHTS
- Lithium Australia subsidiary VSPC has completed an engineering study for a LFP pre-qualification pilot plant
- Study helps determine the optimal commercialisation pathway and allows engagement with offtake and joint development partners
- LFP samples have been supplied and tested by potential customers in the USA and South Korea with positive feedback received
Lycopodium Minerals Pty Ltd (‘Lycopodium’) was engaged to provide management, engineering and procurement services for the PQPP Study. The PQPP Study supports commercialisation of VSPC’s technology, including discussions with potential offtake or joint development partners. A strategic focus of the PQPP Study was completion of equipment design test work and selection of process equipment from Western based vendors. Outcomes from strategic Western sourced equipment testing and selection will be leveraged for the commercial facility design and allow VSPC to assess options for government funding.
Concurrently with the completion of the PQPP Study, samples of LFP cathode materials have been tested by new potential partners in South Korea and the USA. Significantly, these jurisdictions are seeking to onshore supply chains to reduce Chinese dominance with targeted policy changes. Currently, China accounts for over 99% of the global LFP market, which is forecast to grow from 400,000 t in 2021 to over 3,000,000 t by 20301.
Despite its modest size, commercialisation of VSPC’s technology would position it as a significant (non-Chinese) producer of that product.
The supply of reliable cathode materials is fundamental to this and VSPC is one of only a handful of companies outside of China, capable of producing LFP. Feedback from testing of the samples has been positive and VSPC is working with these companies, and others, to determine potential partnerships including offtake and joint development agreements to commercialise its LFP production technology.
Click here for the full ASX Release
This article includes content from Lithium Australia, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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