RE:Livent accroit ses parts dans Nemaska Lithium Le 3 mai 2022 Livent increases its shares in Nemaska Lithium
May 3, 2022 at 2:18 p.m.
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Le Courrier Sud |Writing
Nemaska Lithium opens its offices in Bcancour. (Photo: (Photo courtesy))
BCANCOUR. Nemaska Lithium has just announced that its shareholder Livent, a company recognised worldwide for its expertise in lithium production, has decided to double its stake in the company.
Indeed, LIvent announced the acquisition of Groupe Pallinghurst's share in Qubec Lithium Partners, a property owned equally by Livent and Groupe Pallinghurst and holding 50% of the shares in Nemaska Lithium. Investissement Qubec remains the 50% owner of Nemaska Lithium.
"This acquisition by Livent testifies to the robustness of the project and its full potential in the battery value chain. It also demonstrates the excellent work done by the Nemaska Lithium team since its relaunch in December 2020," the company said in a press release sent to the media on Tuesday.
Over the past eighteen months, Nemaska Lithium has made significant progress to the advanced engineering stage, in addition to starting its community consultation efforts and opening an office in Bcancour, near its future high purity lithium hydroxide conversion plant. This is an integrated project that also includes extraction at the Whabouchi mine.
"Nemaska's progress to its current advanced engineering stage would not have been possible without the significant contributions of the Pallinghurst Group. As a major investor in Livent, the Nemaska Lithium team looks forward to continuing to work with the group to develop the project. ”
In continuity
Nemaska Lithium's activities continue as planned and the current team remains in place. The timetable also remains the same. Recall that construction of the lithium hydroxide processing plant is scheduled to begin in 2023 for commissioning in 2025. It will be the first lithium hydroxide processing plant in Canada.
About Nemaska Lithium
Nemaska Lithium is a developing company that intends to operate a lithium mine in Whabouchi in northern Quebec, and transform the concentrated ore into lithium hydroxide at its future conversion plant, which will be located in Bcancour Industrial and Port Park. The high purity lithium hydroxide that will be produced is mainly intended for the fast-growing lithium-ion battery market, a market driven by the growing demand for transport electrification and energy storage worldwide. Through its products and processes, Nemaska Lithium intends to facilitate access to green energy. Once in operation, the project will create nearly 400 quality jobs in Quebec. (MEV)
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