Rock Tech Lithium and Transamine to cooperate on lithium supply.
Rock Tech Lithium Inc. (TSXV: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) (the “Company” or “Rock Tech”) announce that the Company has signed a non-binding term sheet (the “Term Sheet”) with Swiss-based commodity trading company Transamine SA (“Transamine”), which provides for cooperation 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 31 August 2022 but may be extended upon mutual agreement by the parties.
Markus Brügmann, CEO 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 that:
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 TRANSAMINE
Founded in 1953, Transamine Trading SA is an independent and privately held commodities trading company specialising in non-ferrous raw materials. Transamine is headquartered in Geneva, Switzerland, and has offices throughout key markets including Australia, South Africa, India, the United States and China.
Transamine is a full-service company providing worldwide raw material sourcing, marketing, finance and investment and specialises in all aspects of non-ferrous raw materials production and trade. Transamine maintains the highest standard of conduct to promote fundamental principles such as sustainability, environment and social responsibilities.
ABOUT ROCK TECH LITHIUM INC.
Rock Tech Lithium is a cleantech 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 percent of the raw materials used are expected to come from the recycling of batteries
Rock Tech Lithium and Transamine to cooperate on lithium supply, VANCOUVER, BC, June 27, 2022
