Lithium Australia NL agreed to increase its interest in the Australian lithium-ion battery recycler, Envirostream Australia Pty. Ltd., to 90% from 73.7% by paying A$250,000 in cash.
The company said Dec. 6 it will appoint two directors to Envirostream's board, including the chairman. Lithium Australia will also repay A$250,000 of Envirostream's loans over nine months.
Envirostream recently achieved first production of high-value mixed metal dust, containing cobalt, nickel, lithium and carbon, from its new battery recycling plant in Melbourne, and said the first shipment is imminent.
The Melbourne processing facility can recycle up to 3,000 tonnes per annum of spent batteries.