Lithium Australia subsidiary Envirostream’s Insurance Company to Manage Claim

Report Highlights:

• Lithium Australia advises that its subsidiary Envirostream has received an additional writ regarding a statement of claim valued at AUD 4.1 million, related to a fire incident at their Campbellfield, Victoria location on January 19th, 2019.
• Envirostream’s insurance company has settled approximately AUD 1.7 million in litigated claims related to the fire. As of December 31st, 2023, remaining claims were estimated at AUD 3.3 million.
• The new writ is expected to result in an additional provision in the company’s financial statements, though future claims are anticipated to be settled by Envirostream’s insurance company. Full details will be disclosed in the financial report for the year ending June 30th, 2024.