/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
Transaction highlights include:
Primobius GmbH is a 50:50 joint-venture of leading steelmaking equipment manufacturer SMS group GmbH and Neometals Ltd (ASX: NMT), an Australian specialty metals company
Stelco plans to secure end-of-life electric vehicles to source scrap steel feedstocks and recycle lithium-ion batteries in a proposed 20,000-net ton per annum integrated operation at Lake Erie Works
Will produce up to 18,400 net tons per annum of nickel, manganese and cobalt sulphates, lithium hydroxide and carbonate, and up to 40,000 net tons of steel scrap
Internally generated scrap will reach over 25% of Stelco's steel scrap requirements
Primobius will issue a license to Stelco and hold an option to acquire 25%–50% of the venture
Initial operations targeted for 2023
Technology currently commissioned at 4,000-net ton per annum facility in Hilchenbach, Germany
HAMILTON, ON, Dec. 31, 2021 /CNW/ - Stelco Holdings Inc. (TSX: STLC) ("Stelco" or the "Company") announced today that it has executed binding licensing and option agreements with Primobius GmbH ("Primobius") to commercialize Primobius's proprietary advanced electric vehicle battery recycling and processing technologies in North America. The licensing agreement will enable Stelco to advance commercial lithium-ion battery feedstock sourcing agreements and commence engineering and approvals processes. The option agreement grants...
Read Full Story: https://finance.yahoo.com/news/stelco-enter-rapidly-growing-electric-123000619.html
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
