Alkemy's TVL enters heads of terms with E3 on lithium refining
(Alliance News) - Alkemy Capital Investments PLC on Wednesday announced that its wholly-owned Tees Valley Lithium had entered into a non-binding heads of terms with E3 Lithium Ltd.
Alkemy, a London-based critical minerals investment company, said that the agreement proposed a long-term lithium refining partnership.
"The heads of terms sets out the framework under which E3 would utilise TVL's UK lithium hydroxide...capacity in the UK to convert lithium carbonate from its Clearwater Project in Alberta, Canada into battery-grade lithium hydroxide for supply to E3's customers," said Alkemy.
The proposed deal covers up to 50,000 tonnes of lithium refining capacity over an initial 10-year term as E3 addresses the "high growth" European market.
E3 Lithium, a Calgary, Alberta-based resource development company, said the deal offered "meaningful optionality", adding: "This framework provides a potential pathway to serve hydroxide demand while we continuing to focus on our speed to market and enhanced capital efficiencies for our carbonate production."
Shares in Alkemy closed down 2.1% at 225.12 pence in London on Wednesday.
By John Robaina, Alliance News reporter
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