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Alkemy Capital Investments PLC - London-based company focused on acquisitions in the mining and technology metals sectors - Wholly-owned subsidiary Tees Valley Lithium Ltd enters memorandum of understanding with metals and natural resources trader Traxys North America LLC to source lithium feedstock.
Traxys agrees to source and supply lithium feedstock for Tees Valley Lithium's planned processing facility in Teesside, UK. Construction of train 1, the first of 4 trains, is due to start at the end of this year, with initial production of 24,000 tonnes per annum planned for 2024.
Once completed, all 4 trains will produce a total of 96,000 tonnes per annum of battery-grade lithium hydroxide.
‘We are delighted to be partnering with leading global metals trader Traxys who will supply TVL with the lithium feedstock required for TVL to become Europe's largest and lowest-carbon lithium hydroxide producer, located at the Wilton International Chemicals Park in Teesside, UK,’ Sam Quinn, director at Alkemy and Tees Valley, says.
Current stock price: 92.90 pence, up 13% on Thursday
12-month change: down 55%
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