Alkemy Capital Investments PLC on Friday said that its wholly-owned subsidiary, Tees Valley Lithium Ltd, has received full planning permission to build Europe’s largest lithium hydroxide refinery in Teeside.
Alkemy Capital Investments is a London-based company focused on acquisitions in the mining and technology metals sectors.
Tees Valley was granted permission by Redcar & Cleveland Borough Council to establish the refinery at Wilton International Chemicals Park in the Teesside Freeport, in a deal which Alkemy said would help supply the ‘burgeoning’ electric vehicle battery industry.
The refinery will be capable of producing both lithium hydroxide and lithium carbonate, sourced from imported South American feedstock and Australian lithium producers.
Following the completion of a full Environmental Impact Assessment, the $300 million, zero-waste facility is now shovel-ready. Production is forecasted to begin in 2025, and will generate an estimate of over 1,000 local jobs.
Alkemy also touted the output capacity of the refinery, which it anticipates will produce 96,000 tonnes per annum of low-carbon battery-grade lithium hydroxide once in full production - equivalent to 15% of projected European demand.
The processing refinery is expected to produce enough lithium hydroxide to supply 100% of the forecasted automotive demand in the UK by 2030, with a further 35% of its total production available for export to other countries in Europe.
Alkemy shares were trading 20% higher at 275.00 pence each in London on Friday morning.
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