Century Lithium Corp V.LCE

Volkswagen buys 9.9% of Patriot Battery Metals for $48 mill

[on-target]

  

   German automaker Volkswagen (ETR: VOW3) announced on Wednesday its acquisition of a 9.9% stake in Canadian lithium company Patriot Battery Metals (TSX: PMET) (ASX: PMT) for $48 million.

 

This marks the first time Volkswagen and its battery subsidiary, PowerCo, have directly invested in the lithium supply chain, as the company aims to secure raw material supplies from North America.

 

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The agreement includes a binding commitment for Volkswagen to receive 100,000 tonnes of spodumene concentrate annually for 10 years, starting when Patriot’s Shaakichiuwaanaan lithium project in Quebec begins production.

 

The Vancouver-based company also signed a memorandum of
understanding with PowerCo to explore joint development opportunities for the Quebec project, previously known as Corvette.

https://www.mining.com/volkswagen-buys-9-9-of-patriot-battery-metals-for-48-million/

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IMO, I see a good chance that Century Lithium Corp. could be next for a JV in 2025.