- Rock Tech Lithium stock (TSXV:RCK) is in the black after signing a long-term partnership with Arcore to source lithium products for its converter operations
- The companies will now work out the details of an off-take agreement from Arcore’s Lopare mining project in Bosnia and Herzegovina
- Rock Tech Lithium is a cleantech company focused on producing lithium hydroxide for electric vehicle batteries
- Rock Tech Lithium stock (TSXV:RCK) opened with a gain of 2.44 per cent trading at C$1.26 per share
Rock Tech Lithium stock (TSXV:RCK) is in the black after signing a long-term partnership with Arcore to source lithium products for its converter operations.
Arcore, a private Swiss-based lithium miner, will provide sustainable lithium from its wholly owned Lopare mining project in Bosnia and Herzegovina.
The companies view their collaboration as a key step toward a “regional and domestic value chain for EV batteries within Europe,” according to today’s announcement.
Next steps include defining product specifications, negotiating an offtake agreement, and taking measures toward zero-waste and net-zero emission lithium production.
The agreement follows news that Rock Tech intends to build its next lithium converter in Ontario, a first on Canadian soil, with production tentatively slated for 2027.
“Arcore’s project is an important element of our regional supply strategy. Linking with Arcore also demonstrates how important our converter in Europe is for making lithium consumable for European cathode and battery manufacturers. I’m looking forward to taking and implementing the next steps, which will undoubtedly meet the industry’s needs,” Dirk Harbecke, Rock Tech’s CEO, said in a statement.
“Arcore is delighted to partner with Rock Tech, and we look forward to a successful and synergetic relationship, not only commercially for the parties, but also strategically for the European continent as a whole. Our supply of lithium will contribute to Rock Tech’s cutting-edge converter operations,” added Ali Vezvaei, Chairman of the Supervisory Board of Arcore.
Rock Tech Lithium is a cleantech company focused on producing lithium hydroxide for electric vehicle batteries. It intends to build lithium converters in Canada and Germany with raw material sourced from discarded batteries, as well as its wholly owned Georgia Lake spodumene project in Ontario.
The company’s first converter in Guben, Germany, features an estimated post-tax NPV (8 per cent) of US$1.2 billion, an IRR of 22.3 per cent, and a capacity to supply lithium hydroxide for more than 500,000 electric vehicles per year. A supply deal with Mercedes Benz was finalized in October 2022.
Rock Tech Lithium stock (TSXV:RCK) opened with a gain of 2.44 per cent trading at C$1.26 per share. The stock is down by approximately 60 per cent year-over-year, while having gained about 25 per cent over the past five years.
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