01:33:02 EDT Mon 06 May 2024
Enter Symbol
or Name
USA
CA



Rock Tech Lithium Inc (2)
Symbol RCK
Shares Issued 96,763,662
Close 2023-06-30 C$ 2.03
Market Cap C$ 196,430,234
Recent Sedar Documents

Globe/NYT say Mercedes-Benz keen for Rock Tech's mine

2023-07-04 06:49 ET - In the News

Also In the News (C-TSLA) Tesla Inc CDRs (CAD Hedged)

The Globe and Mail reports in its Monday edition that eager to avoid falling further behind Tesla and Chinese car companies, many Western auto executives are bypassing traditional suppliers and committing billions of dollars on deals with lithium mining companies. A New York Times item inside The Globe says many are scoping out mines in places such as Chile, Argentina, Quebec and Nevada to secure supplies of a metal that could make or break their companies. Established mining companies do not have enough lithium to supply the industry as electric-vehicle sales soar. GM plans for all its car sales to be electric by 2035. The strategy exposes carmakers to the risky, boom-and-bust business of mining, sometimes in politically unstable countries with weak environmental protections. Automakers could end up paying far more for lithium than it might sell for in a few years. Auto companies are playing an important role in helping mines get up and running, said Dirk Harbecke, chief executive officer of Rock Tech Lithium, which is developing a mine in Ontario and a processing plant in Germany that will supply Mercedes-Benz. "I do not think that this is a risky strategy," Mr. Harbecke said. "I think it's a necessary strategy."

© 2024 Canjex Publishing Ltd. All rights reserved.