- Lithium Australia (LIT) and its subsidiary Envirostream Australia have joined the Battery Stewardship Council’s (BSC) battery recycling scheme
- The scheme promotes battery recycling and aims to establish a national network of drop-off sites, making it easier for Australians to recycle
- BSC has recently released a factsheet for battery recycling which covers numerous aspects of battery recycling and details of funding and the scheme itself
- Envirostream has received dangerous goods approval to allow it to transport batteries for recycling
- The scheme is set to launch in January 2022
- On the market this afternoon, LIT is up 2.08 per cent and is trading at 12.3 cents per share
Lithium Australia (LIT) and its subsidiary Envirostream Australia is pleased to join the Battery Stewardship Council’s (BSC) battery recycling scheme.
The scheme promotes battery recycling and aims to establish a national network of drop-off sites, making it easier for Australians to recycle.
Under the scheme, approved entities with be paid to collect and recycle
hazardous and toxic spent batteries.
BSC has recently released a factsheet for battery recycling which covers numerous aspects of battery recycling and details of funding and the scheme itself.
The scheme is set to launch in January 2022, but BSC plans to commence marketing and branding to inform Australians about this exciting new development towards the end of the year.
In anticipation of the launch of the scheme, Envirostream has received approvals for its six-to-12-kilogram storage and transportation boxes. These packages will transport batteries for recycling.
“The scheme is vital to improving Australia’s battery recycling rates, which currently sit at around 10 per cent — a very low figure in comparison to other countries,” Enivrostream Managing Director Andrew Mackenzie said.
“At Envirostream, we’re developing mixed-battery collection systems designed for convenience and approved for safety and the mitigation of environmental risk,” he added.
In Australia, the majority of spent batteries are relegated to landfill, where they have the potential to pollute the environment, including waterways. The low rate of battery recycling means that Australia lags behind many other countries in this regard.
Notably, the World Bank’s report, Minerals for Climate Action, predicting that the demand for battery minerals will jump 500 per cent by 2050.
On the market this afternoon, LIT is up 2.08 per cent and is trading at 12.3 cents per share at 1:02 pm AEST.