AMG Advanced Metallurgical Group N.V. Announces 25% Shareholding In Zinnwald Lithium Plc
AMG Advanced Metallurgical Group N.V. (“AMG”, EURONEXT AMSTERDAM: “AMG”) is pleased to announce that it has agreed with Zinnwald Lithium Plc (“Zinnwald”) (ZNWD, AIM) to subscribe for up to 124 million newly issued ordinary shares as a cornerstone investor to Zinnwald’s accelerated book build. The shares will be subscribed for at a 10% premium to the 20-day Volume Weighted Average Price (“VWAP”) as of the close of market on March 20, 2023, that is, a price of 10.41 pence per share. Upon admission of the newly issued ordinary shares, expected on March 29, AMG will become a 25% shareholder of Zinnwald.
Dr. Heinz Schimmelbusch, AMG’s CEO, commented, “AMG’s investment in Zinnwald is a valuable strategic opportunity. As a partner with Zinnwald, together we will pursue a definitive feasibility study for their project in Eastern Germany. Establishing a raw material base in Germany close to our Bitterfeld operations has obvious logistical and strategic benefits for AMG, and we look forward to working with Zinnwald on this exciting project.”
About Zinnwald
Zinnwald is an AIM quoted, lithium development company focused on becoming an important supplier to Europe’s fast-growing battery sector. The Company owns the integrated Zinnwald Lithium Project in Germany, a development-stage project with attractive economics and approved mining licence. A PEA published in September 2022, highlighted the positive economics of the Project with a Pre-tax NPV8 of US$1,605m, IRR of 39.0%, $192m EBITDA and a payback of just 3.3 years. The Project is located in the heart of Europe’s chemical and automotive industries and has the potential to be one of Europe’s more advanced battery grade lithium projects.
About AMG
AMG’s mission is to provide critical materials and related process technologies to advance a less carbon-intensive world. To this end, AMG is focused on the production and development of energy storage materials such as lithium, vanadium, and tantalum. In addition, AMG’s products include highly engineered systems to reduce CO2 in aerospace engines, as well as critical materials addressing CO2 reduction in a variety of other end use markets.
AMG Clean Energy Materials segment combines AMG’s recycling and mining operations, producing materials for infrastructure and energy storage solutions while reducing the CO2 footprint of both suppliers and customers. AMG Clean Energy Materials segment spans the vanadium, lithium, and tantalum value chains. AMG Critical Materials Technologies segment combines AMG’s leading vacuum furnace technology line with high-purity materials serving global leaders in the aerospace sector. AMG Critical Minerals segment consists of AMG’s mineral processing operations in antimony, graphite, and silicon metal.
With approximately 3,400 employees, AMG operates globally with production facilities in Germany, the United Kingdom, France, the United States, China, Mexico, Brazil, India, Sri Lanka, and Mozambique, and has sales and customer service offices in Japan.
www.ferroalloynet.com
