- Arbor Metals Corp. (TSXV:ABR) is announcing a new in-house department to foster strategic alliances with the Canadian EV industry
- The department will seek partnerships, collaborations and joint ventures across the EV value chain
- Arbor Metals is a mining exploration company focused on developing high-value mineral projects worldwide
- Arbor Metals Corp. stock (TSXV:ABR) last traded at $3.10 per share
Arbor Metals Corp. (TSXV:ABR) is announcing a new in-house department to foster strategic alliances with the Canadian EV industry.
The department will focus on partnerships, collaborations and joint ventures with key stakeholders across the EV value chain, including automakers, battery manufacturers and technology providers.
The move is motivated by the EV sector’s growing importance, as evidenced by the joint commitment between the federal government and the Quebec government to fund Ford’s new EV plant in Bécancour, Quebec. The plant will produce critical battery materials for EVs.
EVs also continue to represent a global tailwind, with Statista predicting global industry revenue to reach US$561.3 billion in 2023. It estimates the sector to grow at a 10.07 per cent CAGR to reach US$906.7 billion in revenue by 2028.
Arbor remains keen to “contribute its knowledge, resources and capabilities to enhance Canada’s position as a global hub for electric mobility,” according to a statement released Monday.
The news follows the company’s hiring of a strategic consultant to foster government support for the Canadian battery metals mining industry.
“We’re witnessing a transformative moment in the Canadian automotive landscape, with a strong focus on EV production and the development of a robust supply chain,” Mark Ferguson, Arbor Metals’ president and CEO, said in the statement. “Establishing our strategic alliance department underscores Arbor’s dedication to being at the forefront of this burgeoning industry.”
“We are excited to embark on this journey of collaboration and innovation, leveraging our expertise in mineral resources to contribute to the broader EV ecosystem,” Ferguson added. “As we align our efforts with the evolving needs of the EV industry, we remain committed to sustainable practices and responsible development.”
Arbor Metals is a mining exploration company focused on developing high-value mineral projects worldwide. Its Jarnet lithium project in Quebec is contiguous to Patriot Battery Metals‘ Corvette-FCI property, one of the most important lithium projects in the world. Arbor recently improved Jarnet’s lithium prospectivity through spectral analysis, which resulted in the identification of lithological units indicative of lithium potential.
Arbor Metals Corp. stock (TSXV:ABR) last traded at $3.10 per share. The stock is up by 26.02 per cent over the past year.
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