Upon completion of Stage 1A activities, the joint venture (JV) plans to license the technology to a semi-commercial facility. Credit: Sashkin/Shutterstock.

Livium and Mineral Resources have agreed on the next steps for the commercialisation of the LieNA technology.

This development follows the completion of Stage 1 activities, which included the operation of a pilot plant and a demonstration plant engineering study.

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The companies are now focusing on optimising the LieNA technology, given the tightened lithium market conditions.

The additional activities, termed Stage 1A activities, will explore alternative commercialisation pathways and select a preferred lithium product, potentially producing battery-grade lithium carbonate.

These activities will be funded through MinRes’ convertible note and LieNA R&D tax incentive rebates received on 8 January 2025.

To facilitate Stage 1A activities, MinRes and Livium have amended the joint development agreement (JDA), extending the Convertible Note Deed maturity date to 30 September 2025.

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Upon completion, MinRes’ convertible note will convert into equity in a new JV, LieNA Pty Ltd, with both companies holding equal stakes.

LieNA, currently a wholly owned subsidiary of Livium, will wholly own the LieNA technology.

Livium CEO and managing director Simon Linge said: “Satisfactory completion of Stage 1 Activities represents a significant milestone for LieNA.

“Whilst lithium market conditions have tightened since our partnership with MinRes commenced, the progress made in Stage 1 Activities has given Livium and MinRes the confidence to undertake further work to optimise the commercialisation pathway.

“Funding via the remaining balance of MinRes’ convertible note and LieNA R&D tax incentive rebates allows the Stage 1A Activities to advance without any dilutionary impacts for shareholders.”

Upon completion of Stage 1A Activities, the JV plans to license the technology to a semi-commercial facility that MinRes may independently fund, develop and operate.

The larger plant will focus on extracting lithium salt at a commercial scale, with royalties payable by MinRes at a discounted rate due to its first-mover advantage.

If Stage 1A activities are unsuccessful, and MinRes opts not to convert to equity, the JV will repay MinRes 50% of the LieNA technology’s value.

The JV aims to license the LieNA technology to third parties, targeting a gross product royalty rate of 8%.

This model could significantly expand Livium’s market reach by capturing fees on all tonnage processed using the technology.