Critical Elements one step closer to becoming battery grade lithium supplier
Critical Elements Corporation (TSX-V: CRE) (US OTCQX:CRECF) has completed its pilot plant program at the Outotec Research Centre, where the company is successfully converting spodumene concentrate from the Rose Project into battery grade lithium hydroxide using a thermal leaching process.
The company reports the pilot plant conversion process yielded extraction rates of up to 93%, surpassing the industry average of between 70 to 75%.
The overall recovery from spodumene to battery grade lithium hydroxide is at 80% versus the market benchmark of 65%, the results reported.
Critical Elements now has the flexibility to meet all needs of cathode, battery and electric vehicle producers, and the results demonstrate that Critical Elements can deliver a battery grade lithium hydroxide to the electric vehicle market, the company stated in a release.
At market close Tuesday, the Montreal- based miner’s stock jumped 2.9%, to 0.71 CAD. The company’s market cap is currently 112.63 million.