Lithium

MPL is venturing into EV eco-system envisioned by our Honorable Prime Minister and intends to set up a Lithium Refinery in India. The Project is expected to cost about USD 300 million, with schedule of commissioning by 2024- 25. The Plant incorporates innovative technologies and processes to leverage its capacity to produce the highest quality battery grade lithium hydroxide. The high quality spodumene concentrate will be sourced across the world and locally sourced reagents would be used to produce battery grade lithium hydroxide in India.

The Plant incorporates innovative technologies and processes to leverage its capacity to produce the highest quality battery grade lithium hydroxide.

Status of the Project

Class 3 Study has been concluded. Capital and Operating costs being evaluated with constant peer reviews. Full feasibility to be completed end-2021.

Plant capacity of 20,000tpa LCE (22,700tpa Lithium Hydroxide Product) is possible using a single processing train production facility allowing for a capital efficient design.

Currently undertaking a measured approach whereby the next phase is a Class 2 study (subject to financial criteria being met), which will be of 18 months duration and include significant further equipment vendor input to allowing for significant engineering to be completed prior to a potential construction phase.

Market assessment study has been undertaken by Benchmark Minerals to identify and assess the growth and potential of the overall lithium market

Significant work has been undertaken to identify and assess by-product markets in India.

Operational planning has commenced with the operations organisation design, key role requirements identified and support infrastructure (e.g. offices, laboratory etc) incorporated into the study.

Key drivers for lithium demand

The underlying demand driver for lithium is the EV revolution and the need for battery storage for Renewable Power at a global level and in India.

Inter-alia, the prominent key drivers for EV adoption in India and globally are government regulations, schemes and targets (such as National Electric Mobility Mission), future battery costs, the availability of EV charging and servicing infrastructure, and OEMs’ automotive platform choices.

Global EV production

is expected to increase from

5.1 million
units in 2018

15 million
units by 2025

44 million
units by 2030