Lithium Australia (LIT) (ASX: LIT) is aiming to lead and enable the global transition to sustainable lithium production. The Company operates Australia’s market leading battery recycler, produces critical battery material lithium ferro phosphate (LFP), and has developed a patented lithium extraction technology. LIT’s revenue-generating recycling business and technologies are well-placed to capitalise on growing global lithium-ion battery demand and provides diversification benefits to global supply chains.
LIT is seeking to secure the supply of key raw materials (Lithium, Phosphate, Iron) for the commercialisation of its LFP technology. For Lithium supply, LIT has a conditional first right of refusal for offtake of up to 30% of spodumene produced by the Lake Johnston Lithium Project. The Lake Johnston Lithium Project is a prospective lithium exploration opportunity located 450 km east of Perth, Western Australia owned by Charger Metals NL (ASX: CHR) and Rio Tinto Limited (ASX: RIO) (LON: RIO).
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