Tees Valley Lithium Enters into Memorandum of Understanding with Weardale Lithium

Alkemy Capital Investments plc has announced that its wholly owned subsidiary, Tees Valley Lithium Ltd (TVL), has entered into a Memorandum of Understanding (MoU) with Weardale Lithium Ltd (WL), an innovative natural resources company which aims to provide secure and sustainable resources. , domestic lithium supply with associated geothermal energy from underground brines in Weardale, County Durham.

WL and TVL consider that there are significant synergies for both the production and refining of lithium in the North East of England. Under the MoU, WL and TVL will work together to create a battery supply chain industrial hub in the North East of England. This will include assessing WL’s potential to supply lithium to TVL for refining.

WL is developing a potential national resource of sustainable ‘green’ lithium from natural geothermal brines to support the growing electric vehicle supply chain in the North East of England, as well as the automotive industry in the UK United. Domestic lithium supply is of strategic importance to the UK in achieving its net zero ambitions and producing high value batteries for electric vehicles in the automotive manufacturing sector.

In July 2022, the first ever UK Critical Minerals Strategy was published. It aims, among other objectives, to accelerate the UK’s domestic capabilities by maximizing what the UK can produce domestically. Lithium is classified as a critical mineral in this report; currently there is no commercial lithium production or refining in the UK or Europe. Lithium produced and refined in the UK will confer transport cost advantages, supply assurances and an environmental premium over overseas suppliers.

Construction of Train 1 of TVL’s lithium hydroxide processing facility at Wilton International Chemicals Park in Teesside, UK, the first of four trains planned for the site, will produce 24,000 tpy of battery-grade LHM. When completed, the four trains will produce a total of 96,000 tpy of LHM, which represents around 15% of the expected European demand by 2030.

Over 700 GW of giga-factories are planned for construction across Europe, which will require over 325,000 tpy of lithium hydroxide: currently there is no lithium hydroxide capacity in Europe.

By sourcing low carbon raw materials and powering an electrochemical process with offshore wind, TVL aims to provide its customers with the lowest carbon lithium hydroxide in the world.

Stewart Dickson, CEO of Weardale Lithium, said: “Weardale Lithium aims to become a UK supplier of lithium from geothermal brines. Our partnership with Tees Valley Lithium is another important step in developing an integrated and consistent lithium supply in the North East of England. In order to accelerate the uptake of electric vehicles and achieve net zero targets, the UK must secure the supply of lithium for the refining and production of battery-grade lithium hydroxide and lithium carbonate. This collaboration with Tees Valley Lithium is very beneficial for both parties as we both seek to maintain the momentum behind the development of the battery ecosystem in the North East. This builds on the region’s existing strengths in electrification, automotive and advanced manufacturing and strengthens the Northeast’s position at the forefront of electrification technologies. Local sourcing of critical high-value mineral commodities is expected to support the development of the electrification revolution for years to come, generating highly skilled science, technology and engineering opportunities and, at the same time, reducing environmental impacts and supply risks of imported raw materials.

“It’s a potential win-win for business and the North East.”

John Walker, CEO of Tees Valley Lithium, added: “Tees Valley Lithium is establishing world-class lithium hydroxide production at Wilton International Chemicals Park, located in Teesside Freeport, to meet demand. growing gigafactories. in the UK and Europe. TVL will bring high-value, low-carbon mid-range lithium products from around the world and provide customers in the UK and Europe with an independent and sustainable supply of battery-grade lithium hydroxide and lithium carbonate.

“We are excited to bring high value manufacturing back to the North East and secure essential minerals for the UK’s journey to net zero.”

Read the article online at: https://www.globalminingreview.com/finance-business/15082022/tees-valley-lithium-enters-mou-with-weardale-lithium/

About Jun Quentin

Check Also

Striking union members should ‘get back to work,’ says Liz Truss | Liz Truss

Liz Truss told strikers to ‘get back to work’ as she doubled down on her …