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Rock Tech Lithium Inc. (TSXV: RCK) has selected Worley as its preferred EPCM partner for constructing Europe's first lithium converter in Guben, Brandenburg. This partnership follows Rock Tech's receipt of final building permits and €100 million in funding. The plant, with a capacity of 24,000 tons of lithium hydroxide per year, represents an €800 million investment.
Worley, a global professional services company with 50,000 employees, brings expertise in complex industrial projects, including lithium projects. The Guben converter aims to use 50% recycled battery materials by 2030. Rock Tech plans to start project execution this year, pending financing completion. The project received full permit approvals in May 2024 and has completed comprehensive basic engineering.
OZ Minerals and CiDRA Minerals Processing have initiated a front end engineering and design (FEED) study to implement CiDRA's innovative minerals separation technology at the Carrapateena mine. This technology, utilized as a Grind Circuit Rougher, aims to enhance plant throughput while achieving a significant 20% reduction in energy consumption per ton. Worley Ltd. will execute the FEED services across various locations, following a successful pre-FEED phase. The collaboration emphasizes a commitment to increasing global copper production sustainably. CiDRA’s President highlighted the partnership's importance in achieving long-term expansion goals, while OZ Minerals' processing manager noted the project's potential to boost throughput and maintain high recovery rates.
Worley has entered into an agreement to sell its North American maintenance and turnaround business to CAM Industrial Solutions for USD 125 million (approximately AUD 180 million). The transaction, which is subject to regulatory approval, is expected to close in the second half of FY2023. This deal excludes Worley's construction and fabrication business in North America but includes its power operations and maintenance business. CAM Industrial, formed by Cross Rapids Capital and The Baupost Group, aims to grow as a provider of maintenance services across the U.S. and Canada.
On February 22, 2022, Worley, ABB, and IBM announced a memorandum of understanding to collaborate on green hydrogen facilities. This partnership aims to develop an integrated solution that enables energy companies to build and manage green hydrogen plants more efficiently. Green hydrogen, produced through renewable-powered electrolysis, faces high production costs, which this collaboration seeks to address. Worley will lead project execution, ABB will enhance electrical and automation systems, and IBM will provide systems integration and data solutions.
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