Linico recently acquired a state-of-the-art battery metal recycling facility from Aqua Metals (NASDAQ: AQMS) located in the Tahoe Reno Industrial Center in Storey County, Nevada, in the immediate vicinity of Tesla’s Gigafactory.
Linico recently acquired a state-of-the-art battery metal recycling facility in the immediate vicinity of Tesla’s Gigafactory
Linico said it will use the proceeds to increase its investment in Green Li-ion Pte Ltd. equipment to produce 99.9% pure lithium-ion cathodes.
Lithium-ion battery production capacity has increased tenfold over the past decade. According to a recent report from the International Energy Agency, demand for lithium is expected to significantly increase to fill global demand for electric vehicles.
Benchmark’s battery grade lithium carbonate midpoint price (EXW China, ≥99.0% Li2CO3) in January surged by over 40% compared to the same month last year to 61,000 yuan per tonne (~$9,450 a tonne), the highest level since June 2019.
Linico plans to commence production later this year, building toward cathode production capacity of about 10,000 tonnes per year.
Midday Wednesday, Comstock’s stock was up 154% on the NYSE. The company has a $186 million market capitalization.
