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Infinity Lithium buddy-up for green battery projects

6 December 2021
ASX: IMI
Jack Baker

Infinity will leverage Thyssenkrupp’s industry-leading mining technologies to assess the potential of green hydrogen to power Infinity Lithium’s fully integrated San José project in Spain.

The move solidifies the environmentally focused company’s plans to supply sustainably produced lithium from its southwest European deposit, the second largest JORC compliant resource globally, into Europe – the world’s second-largest battery-grade lithium market. 

Infinity and its subsidiary GreenTech have agreed with Thyssenkrupp industrial solutions division to develop green hydrogen applications using GreenTech’s novel lithium hydrometallurgical conversion processes.

The company believes its sustainable production has the power to move markets if proven successful as demand for ethically sourced lithium gathers momentum worldwide. 

With its base established in the Spanish state of Extremadura, Infinity said the move leaps it forward to an internationally significant player. 

“The ability to be at the forefront of this leading global application of green hydrogen has wide-ranging implications for the company and the industry,” managing director Ryan Parkin said. 

“Bringing world-leading technologies to San José in alignment to Extremadura’s ambitions to produce green hydrogen from their vast renewable energy projects, and progress sustainable industrialisation in the region.” 

ThyssenKrupp said it was a powerful example of the industry’s commitment to carbon reduction. 

“Our collaboration with Infinity Lithium is a great step in this direction, and we are proud to support the development of a crucial project for Extremadura, Spain and Europe,” ThyssenKrupp Industrial Solutions chief executive Jan Lüder said. 

The parties will examine further strategic opportunities and potential applications to GreenTech’s technological developments.

INF’s Australian Stock Exchange-listed price is trading at 16c (10:13 am UTC+8 hours).

COMPANY OVERVIEW

Infinity Mining Limited (IMI) (previously known as Macarthur Lithium Pty Ltd) holds 100% interest in the Australia Pilbara tenements and in return, Macarthur Australia Limited (currently the sole shareholder) will retain equity in IMI, which will create the listing entity. In addition, the Central Goldfields assets of Zanil Pty Ltd will be acquired by IMI for equity.

COMPANY INFORMATION

ASX: IMI

Website

https://infinitymining.com.au/
https://www2.asx.com.au/markets/company/imi

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