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AMG Advanced Metallurgical Group N.V. Starts Basic Engineering for a Lithium Hydroxide Refining Plant in Germany

Amsterdam, 14 November 2019(Regulated Information) --- AMG Advanced Metallurgical Group N.V. ("AMG", EURONEXT AMSTERDAM: "AMG") today announced its subsidiary, AMG Lithium GmbH, Frankfurt, has commenced basic engineering for a a??battery gradea?? lithium hydroxide facility. It has applied with Investitionsbank Sachsen-Anhalt, Germany, for a governmental grant for the construction of a lithium hydroxide refining plant to be located in Elsteraue/Zeitz. Detailed engineering for that plant will begin by the end of this year.
The new plant, subject to the necessary approvals, will operate on validated processes and be fed with a??technical gradea?? lithium hydroxide, enabling AMG to serve a key need of the electric vehicle lithium battery market for consistent, high-quality a??battery gradea?? lithium hydroxide delivered on a just in time basis. In order to support such plans, AMG Lithium GmbH has established a state-of-the-art lithium hydroxide and battery materials laboratory in Frankfurt-Hoechst. Total capital investment for the refining plant and laboratory is presently estimated at approximately $50 million to $60 million. This a??battery gradea?? lithium hydroxide facility will complement AMGa??s plans to build a a??technical gradea?? lithium hydroxide plant in Brazil and therefore will open the European market for that expansion in Brazil.This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.This press release contains regulated information as defined in the Dutch Financial Markets Supervision Act (Wet op het financieel toezicht).
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