Vancouver, Canada
Rock Tech and Transamine are about to form a joint venture called „RTT Lithium SA“. RTT shall identify, pursue, and secure the supply of and to establish a new route for lithium-bearing spodumene for the Company’s planned European lithium converters. RTT is expected to offer spodumene producers a single resilient and transparent off-take option by providing feedstock to Rock Tech, which intends to supply lithium to customers in the European automotive sector.
“RTT is expected to provide Rock Tech with the capacity to secure a deep pipeline of potential raw material sources and is an important step in advancing the Company’s diversified sourcing strategy,“ said the Company’s Chief Executive Officer. „Transamine is a partner with 70 years of expertise in the global non-ferrous raw materials trading space and has the liquidity and access to financing necessary for potential purchase financing.“
Jean-Pierre Adamian, Director of Transamine explained, „We intend to create a new and reliable solution for spodumene concentrate producers to, via Rock Tech, supply the European lithium market as part of a supply chain that is transparent, traceable and ESG compliant, from mines to the off-take market. This will also help us to grow in a strategic market of critical raw materials.“
RTT will be a 50/50 joint venture company to be based in Geneva, Switzerland, which is expected to be formed end 2022. Future deliveries of spodumene concentrate by RTT to Rock Tech will be governed by long-term feedstock supply agreements to be entered into between RTT and Rock Tech.
For more details please follow our press publications at SEDAR.
Download full press release