- Avalon Advanced Materials (AVL) has entered into a LOI with Rock Tech Lithium, regarding a facility development collaboration
- The two companies will work together to create a lithium battery materials process facility in Thunder Bay, Ontario
- The facility will accept lithium mineral concentrates from Avalon’s and Rock Tech’s lithium projects, to produce lithium sulphate
- Creating a new lithium supply chain in Ontario could trigger local lithium-ion battery manufacturing and electric vehicle manufacturing businesses
- Avalon Advanced Materials is up 7.14 per cent and is currently trading for C$0.75 per share
Avalon Advanced Materials (AVL) has entered into a LOI with Rock Tech Lithium, regarding a facility development collaboration.
The LOI is for the creation of a lithium battery materials process facility in Thunder Bay, Ontario. The proposed facility would be designed to accept lithium mineral concentrates from Avalon’s and Rock Tech’s lithium projects within the province.
Avalon’s Separation Rapids Lithium Project is located 70 kilometres north of Kenora, while Rock Tech’s Georgia Lake Lithium Project is 145 kilometres north-east of Thunder Bay. The facility may also potentially receive lithium mineral concentrates from other emerging lithium mining operations in Northern Ontario.
The concentrates from the various projects would be processed at the facility into lithium sulphate, a precursor chemical for lithium-ion batteries.
Avalon’s President and CEO, Don Bubar, commented on the potential flow-on effects of the company’s collaboration with Rock Tech Lithium.
“Northern Ontario has the potential to become a major producer of lithium-ion battery materials, including cobalt, nickel, graphite, and manganese, and Thunder Bay is an ideal central location to serve as a hub for establishing these supply chains,” he said.
“Once established, they can be the catalyst for the creation of a lithium-ion battery manufacturing business in Ontario, along with electric vehicle manufacturing, as recently announced by Premier Ford,” he added.
Don went on to say that Avalon looks forward to working with Rock Tech to establish a new lithium supply chain in Canada.
Avalon Advanced Materials is up 7.14 per cent and is trading for C$0.75 per share, as of 12:20pm EST.
