18:54:05 EST Mon 30 Jan 2023
Enter Symbol
or Name
USA
CA



Rock Tech Lithium Inc (2)
Symbol RCK
Shares Issued 73,254,774
Close 2022-06-27 C$ 4.41
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Rock Tech considers JV with Transamine for Li supply

2022-06-27 09:27 ET - News Release

Mr. Dirk Harbecke reports

ROCK TECH LITHIUM AND TRANSAMINE TO COOPERATE ON LITHIUM SUPPLY

Rock Tech Lithium Inc. has signed a non-binding term sheet with Swiss-based commodity trading company Transamine SA, which provides for co-operation and collaboration between the parties in sourcing and supplying lithium spodumene concentrate feedstock for Rock Tech's proposed European lithium hydroxide converters.

Pursuant to the term sheet, Rock Tech and Transamine have agreed to engage in substantive negotiations regarding a potential joint venture to jointly pursue the development of an integrated spodumene concentrate supply chain, which would advance the company's diversified sourcing strategy for the supply of lithium products to the European electric vehicle market. The validity of the term sheet is initially limited until Aug. 31, 2022, but may be extended upon mutual agreement by the parties.

According to Markus Brugmann, chief executive officer of Rock Tech Lithium: "In order to support automobile customers in the coming years, during which an upsurge in electric vehicles is expected in Europe, securing the supply chain of lithium hydroxide for batteries is going to be critical. With their established expertise, Transamine would represent an ideal partner for Rock Tech in sourcing the raw material needed for our lithium hydroxide converters. In times of disruption, a partnership with Transamine would further help to secure a resilient supply chain for our operations."

Jean-Pierre Adamian, from Transamine, commented: "Transamine is active worldwide for 70 years in non-ferrous ores and concentrates whereas spodumene required by the Rock Tech Converters' fits perfectly our existing trading activity. In view of also contributing to the low-carbon footprint industry, we are happy to enter this JV with the first European-compliant converter, which also aims to source recycled lithium sulphate from battery recycling (hydromet recycling of the black mass) which would replace part of the primary spodumene resource. Because the aim is also to obtain around half of the raw material required from recycling by 2030."

About Rock Tech Lithium Inc.

Rock Tech Lithium is a clean technology company with operations in Canada and Germany that aims to supply the automotive industry with high-quality lithium hydroxide made in Germany. As early as 2024, the company intends to commission Europe's first lithium converter with a nameplate production capacity of 24,000 tonnes per year. This is equivalent to the volume needed to equip around 500,000 electric cars with lithium-ion batteries.

The company has set itself the goal of creating the world's first closed loop for lithium, thus closing the raw material gap on the road to clean mobility. Rock Tech owns the Georgia Lake project in Ontario, Canada, and, as early as 2030, around 50 per cent of the raw materials used are expected to come from the recycling of batteries

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