Gina Rinehart-backed lithium hopeful surges after demo batch

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Australia-listed lithium developer Vulcan Energy Resources Ltd. has gained nearly 40% this week after announcing its first viable output using direct-extraction technology, an emerging technique for producing the battery material.in line with the quality it eventually plans to make commercially, Vulcan said in a statement on Thursday. The firm backed by Australia’s richest woman Gina Rinehart has agreements to supply European carmakers including Stellantis, Renault SA, and Volkswagen AG.

Vulcan is planning to start market-ready production in 2026, executive chairman Francis Wedin said in an email interview. The company is still seeking to secure funding for that first phase, which will make 24,000 tons of lithium hydroxide annually — enough to supply batteries for half a million electric vehicles.

Vulcan said the demo production in Germany was the first lithium chloride sourced and produced within Europe. The project will use geothermal energy to power its plant, reducing carbon emissions, it said.Project to turn hydrogen into a powder for easy export gets A$5 million in funding

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