Lithium Australia advances acquisition of Brisbane battery cathode developer, the Very Small Particle Company (VSPC), with major shareholders of both companies executing a binding Share Sale and Purchase Agreement that remains subject to a minimum acceptance of 75%.
The acquisition will comprise of procuring VSPC's assets including intellectual property and a decommissioned pilot plant in Brisbane (Australia) designed to produce complex metal oxides/phosphate powders for the production of lithium-ion batteries (LIBs). The plant incorporates not only Australia's most advanced LIB laboratory and testing facility, but also equipment for cathode coating and battery-cell production.
The proposed VSPC acquisition will provide Lithium Australia with the ability to deliver cathode materials into the global LIB supply chain from a number of sources. The initial feed sources will include unconventional silicates such as micas contained in mine waste, low-grade and contaminated spodumene concentrates, waste materials from battery manufacturers, and used LIBs.
Lithium Australia Managing Director, Adrian Griffin, sees the utilisation of mine waste, unconventional lithium minerals and waste batteries in the production of high-quality cathode materials as the ultimate test of sustainability.
"This approach will help reduce the pressure on primary sources of energy metals. The integrated technologies available to Lithium Australia will allow for better resource utilisation, reduce the quantity of valuable materials going to landfill and enable the rebirth of many materials as new generation LIBs."