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Neometals Ltd ( (AU:NMT) ) just unveiled an update.
Neometals Ltd announced that Primobius GmbH, its joint venture with SMS group GmbH, has decided not to exercise its option to acquire equity in Stelco’s battery recycling vehicle. Despite this, Stelco retains exclusive rights to use Primobius’ lithium-ion battery recycling technology in North America, and Primobius will earn a gross revenue royalty from its use. This decision reflects Primobius’ commitment to a lower-risk, licensing business model in response to the shifting market for battery commodities and a slowdown in the lithium battery supply market in North America and Europe.
More about Neometals Ltd
Neometals Ltd is focused on delivering stakeholder value through sustainable production of critical materials essential for a cleaner future. The company is commercializing a portfolio of sustainable processing solutions that recycle and recover critical materials from high-value waste streams. Neometals is involved in lithium-ion battery recycling technology, lithium chemicals production, and vanadium recovery, alongside exploration and development of low-impact mining operations at its Barrambie Gold Project.
Average Trading Volume: 873,759
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$55.4M
For an in-depth examination of NMT stock, go to TipRanks’ Overview page.