Gold and silver mining firm Comstock Mining has signed an agreement to acquire Haywood quarry and industrial property from Decommissioning Services LLC for $2.1 million in cash and stock.
Haywood property is spread across approximately 190 industrial acres in Lyon County in Nevada, with immediate access to the highway.
Comstock Mining intends to use a part of this property for storing used lithium-ion batteries, supporting Comstock’s renewable energy subsidiary LiNiCO Corporation’s battery metal recycling operations. The property will sort and store waste lithium-ion batteries. With access to US 50, the batteries can be transported to LINICO’s battery metal crushing, separating and processing facility in the Tahoe-Reno Industrial Center as needed.
Construction of the first phase of LiNiCo’s new processes will commence at the TRI Facility upon approval of the application, with an anticipated completion and start-up originally planned for sometime this year. Once complete, the TRI Facility is conservatively expected to scale up to its initial nameplate capacity exceeding 100,000 tons per year of li-ion batteries.
Comstock’s Executive Chairman and CEO Corrado De Gasperis said the site supports Comstock’s transformation into a renewable energy company and said, “It requires minimal site preparation and permitting to become a critical link in the system necessary for LiNiCo to operate at maximum throughput.”
The firm intends to extract lithium from the batteries immediately after crushing and conditioning for market leading yields that will maximize lithium recovery for reuse in the electrification products.
