EV Metals Group plc (“EVM”), a global battery chemicals and technology company, is pleased to announce the signing of a strategic partnership agreement with RCF Management L.L.C, the manager of Resource Capital Funds (“RCF”), a leading private equity firm specialising in the global mining and minerals sector.  

The agreement outlines a strategic collaboration whereby RCF will leverage its global platform to work with  EVM and its wholly owned subsidiary, EV Metals Arabia Company for Industry (“EVM Arabia”), in considering avenues to secure investment for EVM Arabia’s Lithium Chemicals Plant (“LCP”) Project in Yanbu Industrial City in the Kingdom of Saudi Arabia. The LCP Project is at an advanced stage, ready to commence construction for the first two processing trains with a production capacity of 50,000 tonnes per annum of high purity Lithium Hydroxide Monohydrate for customers across Europe and the Middle East. 

Commenting on the partnership, Luke Fitzgerald, CEO of EV Metals Group plc, said: "RCF brings substantial mining and metals investment experience and a strong team of professionals with wide-ranging industry and financial expertise. Their demonstrated history of successful investments in metals and mining globally, together with their extensive portfolio of assets under management, makes them an invaluable partner for EVM as we advance our Lithium Chemicals Plant Project in the Kingdom of Saudi Arabia.” 

Commenting on the partnership, Martin Valdes, Head of Private Equity of RCF, said: "At Resource Capital Funds, we are true believers in the energy transition thematic and the need for further sources of refinery capacity for critical minerals outside China. Considering the downstream expertise, the strategic geographic location and the advantageous cost of energy that the Kingdom of Saudi Arabia provides, building a lithium chemical plant makes enormous strategic and economic sense. EVM has advanced a very attractive project, and RCF is pleased to be partnering up with them to advance this exciting project.” 

-Ends-

EV Metals Group plc 
Luke Fitzgerald, Chief Executive Officer  
Garreth Young / Hannah Newberry 
Email: marcomms@evmetalsgroup.com 

RCF Management L.L.C  
Martin Valdes, Head of Private Equity 
Sunny Shah, Investment Team Leader, Private Equity 

 About EV Metals Group plc 

EV Metals Group plc (EVM) is a global battery chemicals and technology business committed to a clean energy future. 

EVM is focused on the production of high purity chemicals required in rechargeable batteries for electric vehicles and renewable energy storage. Our business model is based on the integration of upstream (mining) and midstream (chemical refining) supply chains for critical raw minerals from geopolitically aligned sources to produce high purity battery chemicals vital to the global energy transition. 

Through our mine to refine value proposition, we will offer transparent and stable supplies of high purity battery chemicals to growth markets including the Middle East, Europe and North America.  This will involve upstream mining and production of intermediate products via participation and ownership of mining mineral resources, facilitated by joint ventures and long-term offtake agreements for midstream processing at our planned chemical refining plant in the Kingdom of Saudi Arabia (KSA). 

Our flagship Lithium Chemicals Plant (LCP) in Yanbu Industrial City in KSA is being developed as a midstream hub for diversification and geopolitical alignment of supply chains for electric vehicle and battery cell manufacturers. The LCP is set to play a critical role in the Kingdom’s industrial diversification efforts, featuring an initial nameplate capacity to produce 50,000 TPA of high purity Lithium Hydroxide Monohydrate (LHM). 

Incorporated in 2014, EVM is a private company with operations in Western Australia and KSA. For further information on EVM please visit www.evmetalsgroup.com. 

About RCF Management LLC 

Resource Capital Funds, the pioneer in private equity mining investment.  RCF is a critical minerals and mining-focused global alternative investment firm.  For 25+ years, RCF has partnered with investors, innovators, and miners to lead the mobilization of capital into mining, aiming to produce superior returns for all stakeholders.  From the energy transition to supporting industrialization across the globe, metals and mining has been and is the bedrock and growth engine for human civilization and advancement.  https://resourcecapitalfunds.com/