The share price of Lithium Australia NL [ASX:LIT] increased by a staggering 7.14% today, trading at $0.10 at time of writing.
Why did this happen to Lithium Australia shares?
Lithium Australia has announced its path to sustainability, aspiring to ‘close the loop’ on the energy-metal cycle.
The increase in share price of lithium Australia might come from this, along with their combined technology assets, which the company believes are diving sustainability.
With the increasing need for batteries in solar power, electric cars and other technologies, many lithium companies have been in the spotlight recently.
LIT’s principle business units include:
- SiLeach technology – main lithium extraction
- VSPC – Tailors cost-effective cathode formulations for electronic batteries.
- RCARC – battery recycling
Respectively these suites of tech owned by Lithium Australia can:
- Convert mine waste to battery chemicals
- Covert the chemicals to batteries, and
- Recycle the batteries to regenerate the chemicals.
Future goals for Lithium Australia
LIT has one main goal: to use its processing technologies to produce lithium chemicals at a commercial scale, while getting operating costs in the lowest quartile.
Investors can also look forward to Sileach’s large Scale Pilot Plant (LSPP) first production set for 2020, which will utilise its process for lithium recovery from mine waste.
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