Tees Valley Lithium’s lithium refinery was identified by the Critical Minerals Association as a case study project required for the successful development of the UK’s critical minerals midstream processing and refining sector.
Alkemy Capital Investments plc (“Alkemy”) (ALK:LSE) (JV2:FRA) and its wholly-owned subsidiary Tees Valley Lithium Limited (” TVL “) are pleased to report that TVL’s lithium hydroxide refinery at Teesside features significantly in the Critical Minerals Asssociation’s paper entitled ” Midstream Processing and Refining: Unlocking Security of Supply”.
HIGHLIGHTS
· The Critical Minerals Association United Kingdom (“CMA UK”) is a key interlocutor between the UK Government and the critical minerals industry and aims to support the development of critical minerals supply chains in the UK
· TVL’s lithium refinery in Teesside has been identified by the CMA UK as a case study project that will form a key strategic component of the UK’s critical minerals midstream processing and refining sector
· CMA UK recommends that the UK government implement strategic solutions that include incentivising and accelerating investment into UK midstream and downstream processing, which would greatly benefit TVL
CMA UK states that its mission is to support the development of socially and environmentally responsible critical mineral supply chains for the UK’s strategic security of supply for the Energy Transition, Energy Security, and Green Economy.
In a paper pulished yesterday entitled “Midstream Processing and Refining: Unlocking Security of Supply”, TVL’s Wilton refinery was highlighted by CMA UK as a project of strategic importance in the UK critical minerals midstream processing and refining sector. It noted that:
“TVL is establishing Europe’s potentially first and largest lithium hydroxide facility based in the North East of England. The facility will eventually use a low-carbon electrochemical processing route and will be powered by renewable energy.
TVL has the potential to become one of the lowest carbon lithium refining projects in the world.
Alkemy aims to reduce embedded carbon in the lithium refining process by producing lithium sulphate at the Port Hedland merchant refinery in Western Australia which will serve as a hub for Australian spodumene miners, enabling direct access to the growing European battery market. The refinery will aim to become the primary source of feedstock for the TVL refinery in the UK and enable the production of low-carbon, battery-grade lithium hydroxide.”
CMA UK’s paper also recommended that the UK government implement five key strategic solutions to secure the UK’s stable and resilient green economy, all of which would benefit TVL, as follows:
· Incentivise and accelerate investment into UK midstream and downstream processing.
· Align government departments on the importance of critical minerals.
· Leverage UK freeports to promote international business.
· Extend the UK’s soft power by supporting UK critical mineral companies operating overseas.
· Invest in the next generation of critical mineral leaders.
A full copy of the paper can be found here on the CMA UK’s website:
www.criticalmineral.org/_files/ugd/5caeff_58f8a2c396e241219aa4b108e6c705db.pdf
Alkemy and TVL Director Sam Quinn commented:
“We welcome the Critical Minerals Association’s latest paper and its conclusions strongly support Tees Valley Lithium’s strategy that will see its lithium hydroxide project form a significant component of the UK’s transition to electric vehicles. We look forward to continuing to work with the UK government to help deliver the worthy objectives outlined by the CMA .”
Further information
For further information, please visit Alkemy’s website: www.alkemycapital.co.uk or TVL’s website www.teesvalleylithium.co.uk.
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Alkemy Capital Investments Plc
Sam Quinn
Tel: 0207 317 0636
