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Lithium Miner Eyes Even Greater Riches in Piles of Battery Waste

March 23, 2018, 11:30 AM

Recycling lithium material from used electric vehicle batteries promises to be even more profitable than mining the increasingly valuable metal, according to an Australian producer building a test facility in Canada.

Perth-based Neometals Ltd. is working to recover raw materials including lithium, cobalt, nickel and copper from expired batteries at a facility in Montreal, aiming to add production from recycling to its existing output from mining.

The electric vehicle revolution has sparked a surge in demand for battery materials, driving up prices and triggering a rush to secure new sources of supply. As rising costs and increased competition pressure mining ...