Lepidico Enters Administration Amid Global Lithium Glut

Lithium chemicals manufacturer Lepidico Limited has become the latest casualty of the global oversupply of lithium, with KordaMentha appointed as administrators. The company’s board of directors named Richard Tucker and Paul Pracilio of KordaMentha as Voluntary Administrators for Lepidico Limited and its subsidiaries, including Lepidico Holdings, Bright Minz, Li-Technology, Mica Exploration Areas, and Silica Technology.

In a statement to investors, the directors explained the decision to enter Voluntary Administration, citing failed attempts to secure financing for the Karibib Lithium Project and its mineral concentrator. The administrators plan to continue the sale and recapitalization campaign initiated by the company before their appointment. During this period, they intend to collaborate closely with management and employees to evaluate operations and preserve value.

Lepidico’s ‘mine to market’ strategy involves processing ore from the brownfield open-pit Karibib mines in Namibia using conventional flotation technology. The resulting lepidolite-rich concentrate is then transported to the UAE for conversion through Lepidico’s proprietary technologies. Lithium hydroxide produced at the facility is shipped to customers under a binding offtake agreement with U.S.-based miner Traxys.

KordaMentha has invited interested parties to register their details for potential involvement in the recapitalization or sale process.