The smelting facility will be designed to utilise a higher-pressure and high-heat technique to extract and recover a wider range of valuable metals, such as cobalt and nickel in addition to lithium.
This will help the group to maximise the amount and purity of metals and materials extracted. And in turn sell and export these recovered resources as raw materials, instead of water, commanding higher selling prices.
Koh Mia Seng, executive chairman of Sen Yue, says, “There is a growing realisation around the world that waste, particularly e-waste, is a vitally important source of many strategic and valuable metals. Developing sustainable waste management solutions are both critically important to our environment and a clear business opportunity. Our new smelting facility will be a major step towards our green and environmentally-friendly strategy, where materials are used in a closed-loop system, with little or no waste ending up in landfills.”
As at 11.15am, shares in Sen Yue are trading 5.0% lower at 3.8 cents.
