Donnan Dialysis uses ion exchange membranes to extract and separate cations. The driving force is provided by differences in chemical potential, rather than by electric fields or pressure. A Donnan Dialysis based process to recover lithium, nickel, cobalt, manganese, and organic acid lixiviant from recycled lithium ion battery cathodes is under development. In this paper we present a model of Donnan Dialysis and results of simulations of the aforementioned process. The simulations show that 170 m2 of membranes can process 1000 L of leachate ([Li+] = 0.285 M, [Co2+] = [Ni2+] = [Mn2+] = 0.095 M, pH 2) in two days and recover 94.1% of the lithium (as lithium carbonate), 99.4% of the transition metals (as mixed sulphates ready for solvent extraction), and all of the organic acid using 423 moles of H2SO4 and 268 moles of KHCO3.