Lucky-corner schreef op 14 november 2019 07:01:
Amsterdam, 14 November 2019 (Regulated Information) --- AMG Advanced Metallurgical Group N.V. ("AMG", EURONEXT AMSTERDAM: "AMG") today announced its subsidiary, AMG Lithium GmbH, Frankfurt, has commenced basic engineering for a “battery grade” lithium hydroxide facility. It has applied with Investitionsbank Sachsen-Anhalt, Germany, for a governmental grant for the construction of a lithium hydroxide refining plant to be located in Elsteraue/Zeitz. Detailed engineering for that plant will begin by the end of this year.
The new plant, subject to the necessary approvals, will operate on validated processes and be fed with “technical grade” lithium hydroxide, enabling AMG to serve a key need of the electric vehicle lithium battery market for consistent, high-quality “battery grade” lithium hydroxide delivered on a just in time basis. In order to support such plans, AMG Lithium GmbH has established a state-of-the-art lithium hydroxide and battery materials laboratory in Frankfurt-Hoechst. Total capital investment for the refining plant and laboratory is presently estimated at approximately $50 million to $60 million. This “battery grade” lithium hydroxide facility will complement AMG’s plans to build a “technical grade” lithium hydroxide plant in Brazil and therefore will open the European market for that expansion in Brazil.
This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
This press release contains regulated information as defined in the Dutch Financial Markets Supervision Act (Wet op het financieel toezicht).