Quarterly Update (September 2026)

Highlights

STRONG PRE-FEASIBILITY STUDY FOR BROWNSVILLE LITHIUM REFINERY, TEXAS

• Positive and robust Brownsville Lithium Refinery Pre-Feasibility Study (PFS), demonstrating strong economics, even under conservative lithium pricing assumptions
• Closes the North American Lithium Conversion Gap by establishing domestic lithium chemical production capacity
• Positioned to benefit from growing North American EV and ESS demand, supported by increasing regional lithium resource development

 

The Financial Feasibility Modelling
• Economically viable with a pre-tax NPV8% of approximately US$787 million
• Pre-tax IRR of approximately 21.0% and payback period of 3.9 years
• Based on long-term pricing assumptions of US$1,170/t SC6 spodumene concentrate and US$20,970/t batterygrade lithium carbonate
• Operating cost estimated at approximately US$3,566/t lithium carbonate (ex spod)
• Gross margin of approximately 42% or US$8,822/t lithium carbonate
• Capital cost estimate of approximately US$607 million 
• Includes a substantial US$130 million contingency allowance, reflecting current construction and geopolitical
market volatility 
• Annual revenue of approximately US$383 million
• Annual EBITDA of approximately US$161 million
• Lower operating costs than the Bécancour DFS driven by lower labour costs, soda ash, natural gas pricing, and
discounted spodumene supply from Nigeria 

 

The Design
• LU7 offers a practical solution to lithium refinery start-up challenges by adopting proven technology rather than
developing untested processes
• Based on the successful Jiangsu Lithium Carbonate Refinery design and operating model
• Modelled on producing up to 18,270 tonnes per annum of battery-grade lithium carbonate
• Modular, manageable refinery scale designed to minimise operating complexity
Image is conceptual, project only at PFS stage
• Initial focus on lithium carbonate production, the preferred lithium chemical for LFP battery growth markets
• Design assumptions based on real operating experience and commercial refinery performance

 

The Location
• Brownsville, Texas, strategically positioned as a trans-Atlantic lithium conversion hub 
• Direct access to spodumene feedstock from Africa, Brazil and North America
• Proximity to rapidly growing North American EV, battery and ESS markets
• Deep-water port access allows efficient receipt of large-scale spodumene shipments 
• Lower labour costs, favourable business environment and established industrial infrastructure
• Potential access to U.S. federal and Texas state incentives supporting critical minerals processing

Next Steps
• Commence Definitive Feasibility Study (DFS) and detailed engineering activities
• Secure the proposed refinery site through long-term lease arrangements with the Port of Brownsville
• Advance permitting, environmental and site investigation programs
• Finalise long-term spodumene supply arrangements 
• Progress strategic financing and project partnership discussions

LU7 SUCCESSFULLY RECOVERS CRITICAL METALS GALLIUM AND PLATINUM FROM E-WASTE

• In addition to recoverable gold and copper from electronic circuit boards, Edinburgh University test work successfully targets gallium and platinum recovery
• Diamide ligand successfully extracts and precipitates gallium
• Gallium recovery exceeds 99% under laboratory conditions
• Diamide ligand successfully precipitates platinum
• Process conditions can target different critical metals
• Recyclable ligand offers potential for sequential metal recovery
• Gallium is critical to semiconductors and advanced electronics
• Gallium global market of US$1 billion annually
• Electronic chips contain approximately 0.9–1.3 mg of gallium
• E-waste fractions can contain up to 35% gallium and valued at approximately US$237/kg
• Platinum recovery reaches approximately 99-100% under laboratory conditions • Platinum is a high-value critical metal with a global market worth US$9 billion annually
• Mobile-phone circuit boards contain approximately 14 g/t of platinum
• Some circuit boards contain up to 40 g/t platinum and are valued at approximately US$1,780/oz

MACQUARIE CSIRO COLLABORATION

• Joint LU7-Macquarie University-CSIRO research project announced to advance LU7’s solar-panel recycling
technology
• Microwave delamination separates panels without crushing or contamination
• Enables higher-quality recovery of silicon, glass, silver and other metals
• CSIRO and Macquarie University provide specialist expertise and facilities
• Independent CSIRO involvement strengthens LU7’s scientific credibility
• Reduces LU7’s research and technology-development costs
• In addition to recoverable gold and copper from electronic circuit boards, Edinburgh University test work successfully targets gallium and platinum recovery

Join Us

As we embark on this journey, Lithium Universe aims to maintain a strong line of communication with all our investors.

Join our Email Newsletter to get notified of all the latest news, video updates and other content.