Regulatory Announcement

Commissioning Phase Progressing on Schedule

TM1 is pleased to announce its 48.25% owned battery recycling business, Recyclus Group Ltd, continues to make good progress through the commissioning phase at the UK’s first industrial-scale lithium-ion (“Li-ion”) battery recycling facility in Wolverhampton, West Midlands.

The commissioning phase is advancing on schedule with the plant steadily increasing its hours of operation as it builds up to continuous operations. Furthermore, the facility has passed comprehensive inspections conducted by all relevant agencies, ensuring the uninterrupted continuation of operations without any delays.

The plant has a permit to process up to 22,000 tonnes of Li-ion batteries per annum and Recyclus expects that 8,300 tonnes will be processed in the first year, utilising a single shift pattern of labour during the standard working week. The plant processes end-of-life Li-ion batteries to produce black mass, which contains critical battery metals that can be reprocessed and sold back into the battery supply chain. Robin Brundle, Chairman of Technology Minerals, said:

The commissioning phase at the Li-ion battery recycling site is performing well and on schedule. We are steadily increasing the hours of operation as we gear up to full continuous operations and we look forward to updating the market as we continue our progress.

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