Neometals outlines bullish lithium outlook, favours electricity storage sector
Chris Reed, Chief Executive Officer at Neometals Ltd (ASX: NMT | OTC: RDRUY) presented at the 5th Annual Cleantech and Technology Metals Summit, held recently in Toronto.
Neometals is planning to capitalize on growth in the energy storage market by producing high purity lithium hydroxide via the company’s proprietary ELi process from ore sourced from the company’s jointly owned Mt Marion lithium deposit. The Mt Marion lithium project is located approximately 40km southwest of Kalgoorlie, Western Australia and is jointly owned by Neometals Ltd (13.8%), Mineral Resources Ltd (43.1%) and one of China’s largest lithium producers Jiangxi Ganfeng Lithium Co., Ltd (43.1%).
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In this video of the presentation, Chris Reed:
- Explains why Neometals has sold down equity to bring in key partners. As he says, “you can’t be good at everything”.
- Outlines the growth rate of the lithium-ion market and how the falling prices of batteries are boosting adoption rates.
- Estimates the size of the market by 2025.
- Talks about future developments for Neometals.
- Tells why he thinks the electricity storage market had advantages over electric vehicles.
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