CMA highlights TVL's strategic importance

RNS Number : 8773S

Alkemy Capital Investments PLC

14 March 2023

 

14 March 2023

Alkemy Capital Investments Plc

Tees Valley Lithium's lithium refinery identified by the Critical Minerals Association as a case study project required for the successful development of the UK's critical minerals midstream processing and refining sector

Alkemy Capital Investments plc ("Alkemy") (ALK:LSE) (JV2:FRA) and its wholly-owned subsidiary Tees Valley Lithium Limited (" TVL ") are pleased to report that TVL's lithium hydroxide refinery at Teesside features significantly in the Critical Minerals Asssociation's paper entitled " Midstream Processing and Refining: Unlocking Security of Supply".

HIGHLIGHTS

· The Critical Minerals Association United Kingdom ("CMA UK") is a key interlocutor between the UK Government and the critical minerals industry and aims to support the development of critical minerals supply chains in the UK

· TVL's lithium refinery in Teesside has been identified by the CMA UK as a case study project that will form a key strategic component of the UK's critical minerals midstream processing and refining sector

·   CMA UK recommends that the UK government implement strategic solutions that include incentivising and accelerating investment into UK midstream and downstream processing, which would greatly benefit TVL

CMA UK states that its mission is to support the development of socially and environmentally responsible critical mineral supply chains for the UK's strategic security of supply for the Energy Transition, Energy Security, and Green Economy.

In a paper pulished yesterday entitled "Midstream Processing and Refining: Unlocking Security of Supply", TVL's Wilton refinery was highlighted by CMA UK as a project of strategic importance in the UK critical minerals midstream processing and refining sector. It noted that:

"TVL is establishing Europe's potentially first and largest lithium hydroxide facility based in the North East of England. The facility will eventually use a low-carbon electrochemical processing route and will be powered by renewable energy.

TVL has the potential to become one of the lowest carbon lithium refining projects in the world.

Alkemy aims to reduce embedded carbon in the lithium refining process by producing lithium sulphate at the Port Hedland merchant refinery in Western Australia which will serve as a hub for Australian spodumene miners, enabling direct access to the growing European battery market. The refinery will aim to become the primary source of feedstock for the TVL refinery in the UK and enable the production of low-carbon, battery-grade lithium hydroxide."

CMA UK's paper also recommended that the UK government implement five key strategic solutions to secure the UK's stable and resilient green economy, all of which would benefit TVL, as follows:

· Incentivise and accelerate investment into UK midstream and downstream processing.

· Align government departments on the importance of critical minerals.

· Leverage UK freeports to promote international business.

· Extend the UK's soft power by supporting UK critical mineral companies operating overseas.

· Invest in the next generation of critical mineral leaders.

A full copy of the paper can be found here on the CMA UK's website:

www.criticalmineral.org/_files/ugd/5caeff_58f8a2c396e241219aa4b108e6c705db.pdf

Alkemy and TVL Director Sam Quinn commented:

"We welcome the Critical Minerals Association's latest paper and its conclusions strongly support Tees Valley Lithium's strategy that will see its lithium hydroxide project form a significant component of the UK's transition to electric vehicles. We look forward to continuing to work with the UK government to help deliver the worthy objectives outlined by the CMA ."

Further information

For further information, please visit Alkemy's website: www.alkemycapital.co.uk or TVL's website www.teesvalleylithium.co.uk .

-Ends-

Alkemy Capital Investments Plc Sam Quinn	Tel: [phone] [e-mail]
VSA Capital Limited Andrew Monk (Corporate Broking) Andrew Raca (Corporate Finance)	Tel: [phone]
Shard Capital Partners LLP Damon Heath Isabella Pierre	Tel: [phone] [e-mail] Tel: [phone] [e-mail]

NOTES TO EDITORS

Alkemy is seeking to establish the world's leading independent and sustainable lithium hydroxide production by developing state-of-the-art lithium sulphate and lithium hydroxide facilities in Australia and the UK.

Alkemy, through its wholly-owned subsidiary Tees Valley Lithium, has secured a 9.6 ha brownfields site with full planning permission at the Wilton International Chemicals Park in Teesside, a major UK Freeport, to build the UK's first and Europe's largest lithium hydroxide processing facility.

Tees Valley Lithium has completed a Class 4 Feasibility Study for its proposed lithium hydroxide refinery   which   will process feedstock imported from various sources to produce 96,000 tonnes of premium, low-carbon lithium hydroxide annually, representing around 15% of Europe's projected demand.

Alkemy has also secured a site near Port Hedland, Western Australia to build a world-class sustainable lithium sulphate refinery that will provide reliable feedstock for Tees Valley Lithium.

Forward Looking Statements

This news release contains forward‐looking information. The statements are based on reasonable assumptions and expectations of management and Alkemy provides no assurance that actual events will meet management's expectations. In certain cases, forward‐looking information may be identified by such terms as "anticipates", "believes", "could", "estimates", "expects", "may", "shall", "will", or "would". Although Alkemy believes the expectations expressed in such forward‐looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those projected. Mining exploration and development is an inherently risky business. In addition, factors that could cause actual events to differ materially from the forward-looking information stated herein include any factors which affect decisions to pursue mineral exploration on the relevant property and the ultimate exercise of option rights, which may include changes in market conditions, changes in metal prices, general economic and political conditions, environmental risks, and community and non-governmental actions. Such factors will also affect whether Alkemy will ultimately receive the benefits anticipated pursuant to relevant agreements. This list is not exhaustive of the factors that may affect any of the forward‐looking statements. These and other factors should be considered carefully and readers should not place undue reliance on forward-looking information.

 

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