Lithium Australia NL (ASX: LIT) has moved to a 90% ownership stake in battery recycling specialist Envirostream Australia Pty Ltd for $1.3 million.
The company, which previously held 73.3% of its target, made the move just a week after Envirostream announced its maiden production of high-value mixed metal dust (MMD) from its new battery recycling plant in Melbourne.
Lithium Australia MD Adrian Griffin, says the first shipment of MMD – containing cobalt, nickel, lithium and carbon – from the plant is imminent, while sales of scrap steel, copper and aluminium also recovered from the spent lithium-ion batteries process, will recommence from the plant next month.
“The battery industry needs to take ownership of the disposal consequences of lithium ion batteries,” Mr Griffin said.
“Those batteries contain toxins that should never go to land fill. Lithium Australia, as a supplier of battery manufacturing technology, recognizes the stewardship role required to mitigate the adverse consequences of battery consumption.
“By acquiring Envirostream, and expanding its processing capacity, we are developing an environmentally responsible framework for every Australian battery consumer. We encourage all Australian’s to join with us to create sustainable battery use with minimal environmental impact.”
According to Mr Griffin, Envirostream is the only company in Australia with the integrated capacity to collect, sort, shred and separate all the components of spent LIBs, making it a perfect fit with Lithium Australia’s critical battery-metal-processing expertise.
Envirostream, which has agreements with a number of retailers and manufacturers regarding the stewardship of spent batteries, is currently rolling out its collection network nationally with safe, reliable battery recycling units that are fully compliant with Australian standards. The next step for Environstream is to provide every Australian with reasonable access to drop-off points for spent batteries, in order to avoid them being relegated to kerbside collections and landfill.