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Livent investing in E3 Metals' lithium extraction process

Livent Corp. is collaborating with E3 Metals Corp. to advance the development of the latter's proprietary direct lithium extraction process focused on its petro-lithium brines in Alberta's Leduc Formation.

Livent said Sept. 18 that it pledged to contribute up to US$5.5 million and its technical expertise in the tie-up. Livent will have the option to convert the investment into a 19.9% stake in E3 Metals when the project is complete.

Additionally, the company will be able to appoint one member E3 Metals' board of directors, provided it maintains over a 5% stake.

In March, Livent CEO Paul Graves said the company is targeting low-cost, high-quality lithium assets in Argentina and Australia to meet increasing demand from electric cars.