Rock Tech Lithium and Arcore, a privately-owned Swiss-based lithium mining company, announced that they have entered a strategic partnership to secure a reliable and long-term supply of lithium products for Rock Tech's European converter operations. The parties intend to regionally source sustainable European lithium from Arcore's wholly-owned Lopare mining project in Bosnia and Herzegovina to feed Rock Tech's conversion facility.
Rock Tech and Arcore agreed to explore this strategic partnership with the aim to secure the long-term supply of lithium chemicals to Rock Tech's European converter. This partnership is intended to enable Rock Tech to access Arcore's considerable lithium resources at its Lopare Project in Bosnia and Herzegovina.
This forthcoming collaboration is an unambiguous proof of the development of a regional and domestic value chain for EV batteries within Europe, to which both companies are contributing through lithium supply and conversion, the company says. As next steps the parties intend to define product specifications, negotiate an offtake agreement including quantities and prices. Both Arcore and Rock Tech are committed to working towards a zero-waste and net-zero emission production of lithium.
"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," said Rock Tech's CEO Dirk Harbecke.
Ali Vezvaei, Chairman of the Supervisory Board of Arcore, said, "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."
The partners
Rock Tech is a cleantech company with operations in Canada and Germany on a mission to produce lithium hydroxide for electric vehicle batteries. The company plans to build lithium converters at the door-step of its customers, to guarantee supply-chain transparency and just-in-time delivery, beginning with Rock Tech’s proposed lithium hydroxide merchant converter and refinery facility in Guben, Germany. To close the most pressing gap in the clean mobility story, Rock Tech has gathered one of the strongest teams in the industry. The company has adopted strict environmental, social and governance standards and is developing a proprietary refining process aimed at further increasing efficiency and sustainability. Rock Tech plans to source raw material from its wholly-owned Georgia Lake spodumene project located in the Thunder Bay Mining District of Ontario, Canada, as well as procuring it from other responsibly producing mines. In the years to come, the Company expects to also source raw material from discarded batteries. Rock Tech's goal: to create a closed-loop lithium production system.
Arcore is a privately-owned Switzerland-based lithium mining company with extensive lithium resources and a commitment to environmental and safety standards while seeking to accelerate Europe's energy transition reliably.
