NRW Holdings Limited (ASX: NWH) subsidiary Primero’s proprietary ALi atmospheric leach process has been selected as the preferred pathway by PMET Resources for producing value-added lithium products. The selection came from an evaluation of seven different processing flowsheet options, with PMET identifying the ALi process for its economic potential, logistics efficiency benefits, and technical risk profile.
The validation carries particular weight because it comes from an independent third party rather than NRW itself. PMET’s structured review specifically noted that the ALi process aligns with their sustainability objectives through environmental care in processing and minimization of environmental footprint. Bench scale testing conducted by Primero in Perth using Shaakichiuwaanaan spodumene concentrate samples produced 99.8% battery-grade lithium carbonate, demonstrating that the technology can achieve high-purity output at scale.
This announcement represents a significant milestone for a technology that NRW has been developing within its MET Division. The achievement of third-party validation of the ALi process has been pending for some time, with NRW’s FY26 half year report indicating that commercialization discussions were underway with a number of global investment banks. The company has been assessing its options regarding the most appropriate approach to monetizing this intellectual property.
For investors, the selection by PMET demonstrates tangible market demand for the ALi technology. The lithium sector remains highly strategic given the ongoing transition to battery electric vehicles and energy storage. High-purity lithium carbonate output, as demonstrated in the testing, commands premium pricing. The fact that PMET identified strong logistics efficiency benefits suggests the process may offer cost advantages compared to alternative production methods, an important factor in the competitive lithium processing market.
Primero intends to continue its own developmental testing in parallel with third-party evaluations, with a view to constructing a commercial scale plant in the near term. This suggests management is advancing toward the capital allocation decision for a full-scale facility. NRW CEO Jules Pemberton stated he was pleased to see the preliminary validation of the ALi process and the collateral flow-through benefits identified in PMET’s report.
Investors should monitor progress on the commercialization pathway decision, particularly any announcements regarding the selection of an investment banking advisor or capital partner. The construction of a commercial scale plant would represent a major capital deployment and would likely be material to NRW shareholders. The next phase will be observing whether Primero can progress from bench scale validation to commercial feasibility and ultimately to capital commitment. This announcement is price sensitive and has been flagged as material by the ASX.
View the full ASX announcement (PDF)
About NRW Holdings Limited (ASX: NWH)
NRW Holdings Limited provides diversified contract services to the resources and infrastructure sectors in Australia. The company operates through three segments: Civil, Mining, and Minerals, Energy and Technologies, offering services including civil infrastructure, mine management, contract mining, and related industrial services. The company is headquartered in Belmont, Western Australia.
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