Australian mining company Neometals has entered into a deal with Indian power conglomerate Manikaran Power to jointly fund a feasibility study to set up India’s first lithium refinery.
The refinery, if established, would process ore from the Mount Marion mine in Western Australia to produce battery-grade material for electric cars.
The two companies have agreed to contribute their respective skills, resources and know-how towards achieving a positive outcome from the evaluation activities and to share costs equally, a Neometals company statement said.
The feasibility evaluation could take nearly 24 months and the two firms are expected to make an investment decision in the first half of 2021.
“Manikaran has significant on-the-ground presence and commercial standing in India to assist with site location, regulations, access to finance, utilities and reagents, and is part of a group of companies with broad competencies that enhance their value proposition as partners,” Reed said.
Manikaran Power Limited is India’s third-largest power trading and diversified renewable energy company.
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