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Be the first with the news that moves the market- Critical Elements (CRE) is reporting a new ruling in favour of its Rose Project in Quebec
- The Environmental and Social Impact Review Committee recommended authorization for Hydro-Quebec’s connection to the Rose Lithium-Tantalum mine and the 315-kV Eastmain-1-Nemiscau powerline relocation project
- Final approval from the Quebec Minister of the Environment will allow Hydro-Quebec to relocate a segment of the power line, which crosses the future mine site
- Critical Elements Lithium is focused on becoming a large, responsible supplier of lithium to the electric vehicle and energy storage system industries
- Critical Elements (CRE) opened unchanged, trading at $2.87 per share
Critical Elements (CRE) is reporting a new ruling in favour of its wholly-owned Rose Project in Quebec.
The Environmental and Social Impact Review Committee (COMEX), an independent body appointed by the governments of Quebec and the Cree Nation, recommended authorization for Hydro-Quebec’s connection to the Rose Lithium-Tantalum mine and the 315-kV Eastmain-1-Nemiscau powerline relocation project.
The recommendation paves the way for final approval from the Quebec Minister of the Environment, the Fight against Climate Change, Wildlife and Parks.
Final approval will allow Hydro-Quebec to relocate a segment of the Eastmain-1-Nemiscau line, which crosses the future mine site, then construct a 315/25-kV transformer substation and connect the mine to the Eastmain-1-Nemiscau powerline.
“We are excited about the prospect of moving forward with the Rose Lithium-Tantalum Project in the James Bay Eeyou Istchee region,” stated Jean-Sébastien Lavallée, CEO of Critical Elements.
Critical Elements Lithium is focused on becoming a large, responsible supplier of lithium to the electric vehicle and energy storage system industries. A feasibility study for its Rose Lithium-Tantalum Project in Quebec estimates an after-tax net present value of US$1.9 billion at an 8-per-cent discount rate.
Critical Elements (CRE) opened unchanged, trading at $2.87 per share.
