Monumental energy & automotive news for the Province of Northern Ontario and its abundance of high quality Lithium in this historic
energy shift to "All-Electric transportation" as
Mercedes-Benz & Rock Tech Lithium have signed a strategic partnership in the
mining & supply of Lithium from Northern Ontario Canada.
It is clearly evident that
Germany's Chancellor Olaf Scholz and business delegation travelled to Canada to meet Canada's Prime Minister Justin Trudeau with the aim of locking-in a new strategic supply of Canadian energy for Germany that would include more than just oil & Liquified Natural Gas. Yes, the Germany-Canada strategic energy supply agreement swiftly targeted Northern Ontario's
high quality Lithium, namely Rock Tech Lithium.
Perhaps this Blockbuster Lithium news day resulted in a positive spillover effect as the Frontier Lithium share price was also boosted higher to close near $2.50.
Rock Tech Lithium rose
rapidly to $4.06 and the stock remains HALTED.
Perhaps, Albemarle is not the only potential suitor closely monitoring Frontier's
rapidly expanding high grade Lithium reserves in recent weeks in Northern Ontario.
Mercedes appears to be moving-in at a
lightening pace in its "direct Lithium sourcing approach".
Highlights of the Mercedez Benz & Rock Tech Lithium mine supply agreement are the following:
STRATEGIC PARTNERSHIP: MERCEDES-BENZ INTENDS TO SOURCE BATTERY MATERIAL LITHIUM HYDROXIDE FROM ROCK TECH LITHIUM
Rock Tech Lithium Inc. and Mercedes-Benz AG are about to enter into an agreement which provides for a strategic partnership to produce high-quality lithium hydroxide for the automaker and its battery suppliers. Under the intended binding agreement, Rock Tech has agreed to deliver up to 10,000 tonnes per year of its planned production to the premium manufacturer and its partners starting in 2026.
The two companies made the announcement on Tuesday during a visit to Canada by a business delegation from Germany led by Chancellor Olaf Scholz.
Mercedes-Benz wants to become fully electric by the end of the decade.
From 2025 onward, the luxury car maker plans that all newly launched vehicle architectures will be all electric.
To help make this a reality, Mercedes-Benz intends to enter a strategic partnership with Rock Tech
"Mercedes-Benz plans to go all electric by the end of this decade, wherever market conditions allow. To scale up our electric vehicle production, access to raw materials is needed to improve the resilience and sustainability of the electric vehicle supply chain. With the Rock Tech partnership, we intend to take a direct sourcing approach to secure the lithium supply for Mercedes-Benz battery production," says Markus Schaefer, member of the board of management of Mercedes-Benz Group, chief technology officer, responsible for research and development and procurement.
"With the envisaged agreement, we intend to provide Mercedes-Benz not only with high-quality lithium hydroxide, but also to establish a strategic partnership that is expected to set new standards in sustainable supply chains. We are very pleased to have found a partner that intends to take important steps with us towards a more resilient and sustainable lithium supply chain to deliver an important part of their strategy and of the e-mobility transformation," says Markus Bruegmann, chief executive officer of Rock Tech Lithium.
Rock Tech intends to operate its own mine in Georgia Lake, Ontario Canada, to contribute to wider and growing lithium demand in the northern hemisphere. With the emergence of new sources of raw materials within the G7 community, Canada in particular is becoming increasingly important for resilient supply chains.
Rock Tech exemplifies how co-operation between Canada and Germany can be realized.
This is one of the reasons why Mercedes-Benz and Rock Tech announced the envisaged partnership during a business delegation's trip to Canada on Tuesday in Toronto, with reference to memorandum of understanding entered into by Mercedes-Benz and the government of Canada to strengthen co-operation across the electric vehicle value chain.