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Neometals Ltd ( (AU:NMT) ) has issued an announcement.
Neometals Ltd announced that its Finnish Vanadium Recovery Project, operated by Novana Oy, has received a conditional grant of €48.7 million from Business Finland. This grant will support the development of Europe’s first carbon-neutral vanadium plant in Pori, Finland. The project aims to produce vanadium using recycled industrial side streams, significantly reducing Europe’s dependency on imports from China and Russia. The plant is expected to produce about 9,000 tonnes of vanadium annually, covering up to 60% of Europe’s needs. This development is a significant step towards enhancing the EU’s self-sufficiency in critical raw materials and promoting circular economy practices.
More about Neometals Ltd
Neometals Ltd is an Australian company operating in the recycling and resource recovery industry. It focuses on developing sustainable solutions for critical minerals, with a particular emphasis on vanadium recovery and recycling technologies.
YTD Price Performance: -26.67%
Average Trading Volume: 1,077,129
Technical Sentiment Signal: Sell
Current Market Cap: A$42.38M
Learn more about NMT stock on TipRanks’ Stock Analysis page.