EV Metals Group plc (EVM) has announced a strategic partnership with RCF Management L.L.C., the manager of Resource Capital Funds (RCF), a prominent private equity firm specializing in the global mining and minerals sector.
Under this partnership, RCF will utilize its extensive global network to collaborate with EVM and its wholly owned subsidiary, EV Metals Arabia Company for Industry (EVM Arabia), to explore investment opportunities for EVM Arabia’s Lithium Chemicals Plant (LCP) Project in Yanbu Industrial City, Saudi Arabia. The LCP Project is progressing well and is poised to start construction on the first two processing trains, with an anticipated production capacity of 50,000 tonnes per annum of high-purity Lithium Hydroxide Monohydrate, targeting customers across Europe and the Middle East.
Luke Fitzgerald, CEO of EV Metals Group plc, commented on the partnership: “RCF brings a wealth of mining and metals investment experience, supported by a team with deep industry and financial expertise. Their proven track record in global mining investments and extensive asset portfolio make them a crucial partner as we move forward with our Lithium Chemicals Plant Project in Saudi Arabia.”
Martin Valdes, Head of Private Equity at RCF, added: “At Resource Capital Funds, we strongly believe in the energy transition and the need for new sources of refinery capacity for critical minerals outside China. Given Saudi Arabia’s strategic location, downstream expertise, and favorable energy costs, establishing a lithium chemical plant is both strategically and economically advantageous. EVM has developed a highly promising project, and we are excited to collaborate with them on this significant venture.”