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Neometals Ltd ( (AU:NMT) ) just unveiled an update.
Neometals Ltd, through its joint venture company Reed Advanced Materials Pty Ltd, has entered into a non-binding Memorandum of Understanding with Rio Tinto to explore the potential validation of the ELi Process technology. This collaboration aims to optimize and potentially implement the ELi technology, which promises a significant reduction in operating costs for converting lithium chloride brines to lithium hydroxide, enhancing Neometals’ industry positioning and potentially benefiting stakeholders by reducing reliance on conventional chemical processes.
More about Neometals Ltd
Neometals Ltd is a company involved in the mining and materials sector, focusing on the development of innovative processes for lithium production. Their primary product is lithium hydroxide, which is crucial for battery production, and they aim to enhance the efficiency and cost-effectiveness of lithium extraction.
Average Trading Volume: 784,999
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$48.47M
See more data about NMT stock on TipRanks’ Stock Analysis page.