Arcadium Lithium acquires Li-Metal Corp for $16m

Arcadium Lithium (ASX: LTM) has acquired lithium metal business Li-Metal Corp for $16.88m (US$11m).

This purchase includes the intellectual property and physical assets related to lithium metal production, including a pilot production facility in Ontario, Canada.

The acquisition is expected to strengthen Arcadium’s position as a leading global producer of lithium metal by providing safer, lower cost and more sustainable processes for lithium metal production.

Li-Metals’ capabilities will complement Arcadium’s existing process technologies for producing lithium metal at its Bessemer City site in North Carolina, using concentrated lithium chloride from its Güemes facility in Salta, Argentina.

Arcadium president and chief executive Paul Graves commented on the acquisition.

“We are excited to welcome the team to Arcadium Lithium as we look to lead the way in developing cutting-edge lithium carbonate to lithium metal production technology,” he said.

“This small but important acquisition gives us a platform to advance new and better process pathways for manufacturing lithium metal.

“The ability to produce lithium metal from lithium carbonate will give us additional flexibility to utilise our vertically integrated network of assets while reducing the need for third-party lithium metal.”

Key staff from Li-Metal’s lithium business will be joining Arcadium Lithium, with Li-Metal co-founder and chief technology officer Maciej Jastrzebski entering a consulting agreement to facilitate the transfer of technology.