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SIMS LIMITED — Capital/Financing Update 2025
Apr 30, 2025
65780_rns_2025-04-30_83eae908-60fe-4b29-bd64-83d0cdcaacf9.pdf
Capital/Financing Update
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ASX & MEDIA RELEASE
1 May 2025
(ASX:SGM, USOTC:SMSMY)
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SIMS LIMITED ANNOUNCES CLOSURE OF SIMS RESOURCE RENEWAL
Sims Limited (“Sims or the Company”) today announced it will cease work on the development and commercialisation of plasma-assisted gasification technology for the processing of Automotive Shredder Residue (ASR) waste, conducted through its wholly owned subsidiary Sims Resource Renewal (“SRR”).
Following the successful construction and commissioning of the Rocklea demonstration plant, a market assessment of the technical and commercial viability of this proven technology was undertaken. The plant produced high-quality syngas, contributed to the development of circular plastics, and generated a vitrified by-product suitable for use as a recycled construction material. While the circular plastics economy continues to evolve, current market conditions are not yet conducive to scaling the technology.
In line with our commitment to capital discipline and advancement of our cost reduction program, SRR’s activities will cease, and the technology archived.
Closure-related costs are expected to total approximately $4 million in 2H FY25. In addition, a non-cash write-off of approximately $21 million will be recognised in FY25.
Stephen Mikkelsen, Group CEO and Managing Director, commented, “Sims Metals remains committed to reducing landfill waste and is actively working with a third party on an alternative solution for treating ASR, aligned with our purpose of creating a world without waste to preserve our planet.”
Authorised for release by : The Company Secretary
About Sims Limited
Founded in Australia in 1917, Sims Limited is a global leader in metal recycling and the provision of circular solutions for technology. Employing approximately 4,100 employees globally, the company operates more than 150 facilities across 13 countries. Sims Limited plays a vital role in helping increase circularity and decarbonisation by supplying recycled materials and re-purposed products. The company’s ordinary shares are listed on the Australian Securities Exchange (ASX: SGM), and its American Depositary Shares are quoted on the Over-the-Counter market in the United States (USOTC: SMSMY). The Company’s purpose, create a world without waste to preserve our planet, is what drives its constant innovation and leadership in the circular economy. For more information, visit www.simsltd.com.
Head Office : Level 9, 189 O’Riordan Street, Mascot, NSW, Australia 2020
Contacts:
Media
Investors Media Ana Metelo Stephanie Glue Director, Investor Relations and Global Head of Corporate and Government Sustainability Affairs [email protected] [email protected]