An Australian company, ElectraLith, backed by mining giant Rio Tinto, is raising $15 million to advance lithium mining technology that aims to reduce dependence on Chinese supply chains.
The company, a spin-off from Melbourne’s Monash University, has successfully produced battery-grade lithium hydroxide from various raw lithium sources.
ElectraLith plans to use the funds to build its first facility, focused on further developing and commercializing its direct lithium extraction (DLE) technology.
This innovation could significantly lower the cost of lithium mining and make previously unviable deposits profitable, according to reports from the Financial Times.
The DLE technology also has substantial implications for countries like the United States and Australia, which are seeking to reduce their reliance on China through critical minerals policies.
ElectraLith’s CEO, Charlie McGill, highlighted the potential for the company to supply refined lithium directly to U.S. entities, bypassing China entirely.
What sets ElectraLith apart from traditional methods is its ability to refine lithium without using water or chemicals, a stark contrast to the conventional evaporation processes that require vast amounts of water.
McGill noted that the company’s proof of concept successfully produced lithium hydroxide from low-quality brine in Utah.
Travis Baroni, chief adviser at Rio Tinto’s battery minerals unit and a board member of ElectraLith, emphasized the technology’s potential to significantly reduce both the economic and environmental costs associated with lithium production.
