Page 164 - CW E-Magazine (20-8-2024)

News from Abroad

INORGANIC GROWTH
Arcadium Lithium acquires Li-Metal’s lithium metal

business

US lithium chemicals producer, density anodes for next-generation
Arcadium Lithium, has acquired the batteries.”
lithium metal business of Canada’s
Li-Metal in an all-cash deal worth Expansion plans on hold
$11-mn (C$15.26-mn). In another development, Arcadium
Lithium said it will suspend or delay two
The deal includes intellectual pro- of its four expansion projects as the global
perty and assets associated with lithium market for Li metal faces a supply glut
metal production, as well as a pilot and prolonged price slump. The company
production facility in Markham, plans to pause investment in its Galaxy
Ontario, Canada, to commercialise metal project in Canada and is exploring the
production technology. Additionally, a possibility of bringing in a partner for the
supply agreement has been established, project, Arcadium said in its second-quar-
ensuring that Arcadium Lithium will ter earnings release. The company also
provide lithium metal to Li-Metal as produce lithium metal from lithium car- has revised the timing of two lithium
part of a long-term offtake agreement. bonate will give us additional fl exibility carbonate projects at Argentina’s Salar
Key personnel from Li-Metal’s lithium to utilise our vertically integrated net- del Hombre Muerto. Rather than execute
metal division will join Arcadium Lith- work of assets while reducing the need both at the same time, the projects will
ium. Mr. Maciej Jastrzebski, Li-Metal’s for third-party lithium metal. This will now be completed sequentially.
co-founder and Chief Technology further enhance the competitiveness of
Offi cer, has entered into a consulting our butyllithium and lithium speciality The moves will cut Arcadium’s capi-
agreement with Arcadium Lithium to chemicals business and help us create tal spending by an estimated $500-mn
facilitate the transfer of technology and the scale needed to meet the growing over the next two years, according to the
integrate the team. demand for next generation battery mate- earnings release. The company has no
rials developed from lithium metal,” plans to delay development of its Nemaska
The acquisition is expected to he added. Lithium project in Canada. Arcadium
strengthen Arcadium Lithium’s posi- still sees long-term demand for the metal
tion as a leading producer of lithium Li-Metal’s CEO Mr. Keshav Kochhar intact, but “the market is clearly indicat-
metal by providing safer, lower cost said, “The capital generated from ing that the industry does not need to add
and more sustainable processes for this sale allows for continued deve- supply at the same pace as previously
lithium metal production using various lopment of our ultra-thin, high energy expected,” Mr. Graves said in the release.
grades of lithium carbonate feedstock,
which the company produces in Argen- DKSH buys Portugal’s Euro-
tina. These new capabilities will com-
plement the company’s existing pro- ingredientes
cess technologies for producing lithium
metal at its Bessemer City site in North Switzerland-based distribution fi rm, portfolio of food ingredients and nutraceu-
Carolina, USA, using concentrated lith- DKSH, has announced that its Perfor- ticals. Euroingredientes was established in
ium chloride from its Güemes facility mance Materials business has extended 2001 with a focus on supplying certifi ed
in Salta, Argentina. “This small but its life science activities in Portugal by ingredients into various areas of the food
important acquisition gives us a platform acquiring Euroingredientes. industry such as dairy products, beverages, as
to advance new and better process path- well as bread and bakery. Euroingredientes
ways for manufacturing lithium metal,” DKSH said the acquisition enables it to represents a portfolio of around 30 supp-
said Mr. Paul Graves, President & CEO establish a strategic footprint in the Portu- liers. DKSH said the acquired assets will be
of Arcadium Lithium. “The ability to guese food market with a unique product integrated into its existing operations.

164 Chemical Weekly August 20, 2024

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