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Lithium Australia is gearing up for a year of growth in 2024 by setting its sights on a new joint venture to complement its current partnership with Mineral Resources (MinRes).

The battery developer signed a deal with MinRes in August 2023 for the development and operation of a pilot plant as well as the delivery of an engineering study for a demonstration plant.

The basis of Lithium Australia’s deal with MinRes was its novel lithium extraction process: LieNA.

The company has said it will continue to focus on commercialising the patented technology, with hopes the MinRes deal will effectively free-carry the technology through to commercialisation.

Now Lithium Australia managing director and chief executive officer Simon Linge has confirmed that the company is looking to establish a similar partnership for its lithium iron phosphate (LFP) and lithium manganese iron phosphate (LMFP) products.

“Positive testing results from NOVONIX announced during the year (2023) highlighted our LFP product as an attractive alternative to existing LFP manufacturers concentrated in China, providing a unique diversification opportunity for industry participants,” he said.

Linge emphasised the company’s focus on specific objectives aimed at expanding its footprint across its operations.

“For our recycling business this includes growing LIB recycling volumes, expanding our customer base, securing long term supply and offtake agreements, and extending our footprint to ensure we maintain our leading position in Australia,” he said.

“For our LFP/LMFP technology, we will continue to develop offtake agreements for finished product, contingent raw material supply agreements and further engineering studies on a demonstration facility.

“Lithium Australia continues to strengthen its position as Australia’s leading battery recycling business, providing commercial and retail customers the opportunity to dispose of their batteries safely and responsibly.”