Lithium Australia NL (ASX:LIT) (OTCMKTS:LMMFF) (FRA:3MW) welcomes the release of details of an Australian battery collection network that will form part of the Battery Stewardship Council's battery recycling scheme.
The company's 90%-owned subsidiary Envirostream Australia Pty Ltd is set to play a role in the scheme after receiving Dangerous Goods approvals for the design of its 6-kilogram and 12-kilogram combination packages for the collection and transport of mixed batteries for recycling.
With the World Bank's report Minerals for Climate Action (2020) predicting that demand for battery minerals will jump 500% by 2050, the recycling of spent batteries is potentially a significant and sustainable source of critical battery materials.
The Battery Stewardship Council has attracted Federal Government and industry funding to establish an accredited process for the battery collection and recycling scheme.
The scheme's collection network is set to launch in January 2022.
“Vital to improving battery recycling rates”
Envirostream managing director Andrew Mackenzie: "The scheme is vital to improving Australia's battery recycling rates, which currently sit at around 10% – a very low figure in comparison to other countries.
“At Envirostream, we're developing mixed-battery collection systems designed for convenience and approved for safety and the mitigation of environmental risk.”
Currently in Australia, most spent batteries are relegated to landfill, where they have the potential to pollute the environment, including waterways.
The low rate of battery recycling nationally means that Australia lags behind many other countries in this regard.
Under the scheme, approved entities will be paid to collect and recycle hazardous and toxic spent batteries.
Receipt of the Dangerous Good approval, an Australian first, indicates that Envirostream has complied with all the conditions listed in the approvals process.
The batteries must be packed in accordance with ADG7.7 packing instructions P909, which will be included with each container.