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Lifezone Metals Announces Joint Venture with Glencore to Recycle Platinum, Palladium and Rhodium in the USA
Hydromet Technology to Recover Precious Metals from Recycled Automotive Catalytic Converters Lifezone Metals’ Hydromet Lab Conducting Confirmatory Pilot Program
About this update from Lifezone Metals Limited
[{"type":"text","content":" Hydromet Technology to Recover Precious Metals from Recycled Automotive Catalytic Converters Lifezone Metals’ Hydromet Lab Conducting Confirmatory Pilot Program Testing and Commence Feasibility Study NEW YORK / Dec 13, 2023 / Business Wire / Lifezone Metals Limited (NYSE: LZM) is a modern metals company that creates value across the battery metals supply chain from resource to metals production and recycling. Lifezone Metals’ Chief Executive Officer Chris Showalter is pleased to announce the signing of a term sheet with a subsidiary of Glencore plc (LSE: GLEN) for a platinum, palladium and rhodium (collectively platinum group metals or “PGMs”) recycling project utilizing Lifezone Metals’ hydrometallurgical technology (“Hydromet”) to be based in the USA. Phase 1 confirmatory piloting work has commenced in Perth, Australia using Hydromet to process and recover PGMs from responsibly sourced spent automotive catalytic converters. Mr. Showalter stated: “By applying our Hydromet technology, we aim to responsibly recover platinum, palladium and rhodium from recycled sources in a cleaner and more efficient manner than otherwise possible through traditional smelting and refining. Following our acquisition of Simulus Labs in July, where we acquired the preeminent hydrometallurgical testing and engineering design group, we gained the capability to simultaneously advance our Kabanga Nickel Project through the continuing Definitive Feasibility Study while also investigating other important applications of our core Hydromet technology.” Mr. Showalter continued: “In Glencore, we have a world class partner with exceptional market reach to help position our USA recycling joint venture favorably with respect to financing and marketing of finished PGMs. We expect our confirmatory pilot program to further validate our Hydromet capabilities and demonstrate that we can also generate favorable economic returns from PGM recycling. Further, the facility we intend to build is highly replicable and scalable, which is important given the very large and rapidly growing addressable market we expect in the years ahead.” Highlights of the PGM Recycling Joint Venture with Glencore Term sheet signed by Lifezone Metals and Glencore for the two-phased implementation of a recycling joint venture to recover PGMs from spent automotive catalytic converters. The joint...