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Allkem Ltd.
Allkem Ltd.
Registriert in: Australien WKN: A3C8Z7 Rohstoffe:
Art: Originalaktie ISIN: AU0000193666 Lithium
Heimatbörse: Sydney/Melbourne Alternativ:
Währung: AUD    
Symbol: AKE.AX Forum:

First Lithium Hydroxide Successfully Produced at Naraha

15.11.2022 | 9:29 Uhr | GlobeNewswire

BRISBANE, Nov. 15, 2022 - Allkem Ltd. (ASX|TSX: AKE, "Allkem" or the "Company") and Toyota Tsusho Corporation ("TTC") are pleased to advise that the Naraha Lithium Hydroxide plant in Japan has produced its first lithium hydroxide chemical product. Allkem has a 75% economic interest in Naraha through a joint venture with Toyota Tsusho Corporation who manage the Naraha operation.

TTC and contractor Veolia Jenets ("Veolia") completed construction earlier this year and commissioning activities have been progressing utilising technical grade lithium carbonate feedstock from Olaroz. First production occurred on 22 October and the plant continued operating at a utilisation rates up to 85% until 5 November when it was temporarily shut for scheduled cleaning, maintenance and optimisation work.

With first lithium hydroxide production achieved, the focus will be on progressively increasing the product quality and consistency to reach nameplate capacity of 10ktpa. A 12-month ramp up period is expected, during which progressive quality improvement to a battery grade product is targeted for qualification by offtake customers. It is expected that the majority of off-spec production during the ramp up period will be sold to chemical re-processors.

A Completion Ceremony will be held on site tomorrow 16 November 2022 with representatives from Allkem, TTC, Veolia and other distinguished guests.

Allkem CEO and Managing Director, Martin Perez de Solay said, "With our partner TTC, we have achieved a major milestone in successfully producing lithium hydroxide further delivering our vertical integration strategy and the diversification of our product offering. This facility is the first of its kind in the region and we have proven the technology of converting Olaroz technical grade lithium carbonate feedstock into lithium hydroxide. We have a first mover's advantage and will ultimately be supplying the high-end battery and cathode market."

"I want to thank the TTC team for their tenacity and skill to bring this project to completion. It has not been without challenges such as COVID and it is those hurdles which make this achievement even more significant."

TTC Chief Operating Officer for Metal Division, Masaharu Katayama said, "It is with great pleasure that we announce the completion of construction and first production at Naraha. I want to thank all of the Toyotsu Lithium Corp. team, local and provincial authorities whose dedication has ensured this successful outcome. Finally, I want to acknowledge the Naraha operation is another valuable addition to the enduring and successful partnership with Allkem that started over a decade ago at Olaroz."



Figure 1: Lithium hydroxide product

This release was authorised by Mr Martin Perez de Solay, CEO and Managing Director of Allkem Limited.

Allkem Limited

ABN 31 112 589 910

Level 35, 71 Eagle St
Brisbane, QLD 4000
Investor Relations & Media Enquiries

Andrew Barber
M: +61 418 783 701 E: Andrew.Barber@allkem.co

Phoebe Lee
P: +61 7 3064 3600 E: Phoebe.Lee@allkem.co
Connect

info@allkem.co
+61 7 3064 3600
www.allkem.co

IMPORTANT NOTICES

This investor ASX/TSX release (Release) has been prepared by Allkem Limited (ACN 112 589 910) (the Company or Allkem). It contains general information about the Company as at the date of this Release. The information in this Release should not be considered to be comprehensive or to comprise all of the material which a shareholder or potential investor in the Company may require in order to determine whether to deal in Shares of Allkem. The information in this Release is of a general nature only and does not purport to be complete. It should be read in conjunction with the Company's periodic and continuous disclosure announcements which are available at allkem.co and with the Australian Securities Exchange (ASX) announcements, which are available at www.asx.com.au.

This Release does not take into account the financial situation, investment objectives, tax situation or particular needs of any person and nothing contained in this Release constitutes investment, legal, tax, accounting or other advice, nor does it contain all the information which would be required in a disclosure document or prospectus prepared in accordance with the requirements of the Corporations Act 2001 (Cth) (Corporations Act). Readers or recipients of this Release should, before making any decisions in relation to their investment or potential investment in the Company, consider the appropriateness of the information having regard to their own individual investment objectives and financial situation and seek their own professional investment, legal, taxation and accounting advice appropriate to their particular circumstances.

This Release does not constitute or form part of any offer, invitation, solicitation or recommendation to acquire, purchase, subscribe for, sell or otherwise dispose of, or issue, any Shares or any other financial product. Further, this Release does not constitute financial product, investment advice (nor tax, accounting or legal advice) or recommendation, nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any contract or investment decision.

The distribution of this Release in other jurisdictions outside Australia may also be restricted by law and any restrictions should be observed. Any failure to comply with such restrictions may constitute a violation of applicable securities laws.

Past performance information given in this Release is given for illustrative purposes only and should not be relied upon as (and is not) an indication of future performance.

Forward Looking Statements

Forward-looking statements are based on current expectations and beliefs and, by their nature, are subject to a number of known and unknown risks and uncertainties that could cause the actual results, performances and achievements to differ materially from any expected future results, performances or achievements expressed or implied by such forward-looking statements, including but not limited to, the risk of further changes in government regulations, policies or legislation; the risks associated with the continued implementation of the merger between the Company and Galaxy Resources Ltd., risks that further funding may be required, but unavailable, for the ongoing development of the Company's projects; fluctuations or decreases in commodity prices; uncertainty in the estimation, economic viability, recoverability and processing of mineral resources; risks associated with development of the Company Projects; unexpected capital or operating cost increases; uncertainty of meeting anticipated program milestones at the Company's Projects; risks associated with investment in publicly listed companies, such as the Company; and risks associated with general economic conditions.

Subject to any continuing obligation under applicable law or relevant listing rules of the ASX, the Company disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements in this Release to reflect any change in expectations in relation to any forward-looking statements or any change in events, conditions or circumstances on which any such statements are based. Nothing in this Release shall under any circumstances (including by reason of this Release remaining available and not being superseded or replaced by any other Release or publication with respect to the subject matter of this Release), create an implication that there has been no change in the affairs of the Company since the date of this Release.

Not for release or distribution in the United States

This announcement has been prepared for publication in Australia and may not be released to U.S. wire services or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction, and neither this announcement or anything attached to this announcement shall form the basis of any contract or commitment. Any securities described in this announcement have not been, and will not be, registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States except in transactions registered under the U.S. Securities Act of 1933 or exempt from, or not subject to, the registration of the U.S. Securities Act of 1933 and applicable U.S. state securities laws.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/dd85229e-22b6-44d4-91c0-caf5b7b41b27


 
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