Green Technology Metals secures a customer in LG Energy Solutions as Lake Nipigon-area deposit advances toward mine production
An Australian lithium exploration company working ground in northwestern Ontario is doing a direct deal with one of the world’s biggest battery manufacturers.
Green Technology Metals (GT1) announced LG Energy Solutions has signed an offtake sheet to receive 25 per cent of the spodumene concentrate production over a five-year period from the start of mining at its flagship Seymour Project, a 9.9-million tonne lithium deposit.
Seymour is situated at the top end of Lake Nipigon near the town of Armstrong. A preliminary economic assessment (PEA) of Seymour, as to what a mine could like, is underway and is expected to be made public in a few weeks.
The South Korean manufacturing giant is investing (Australian) $20 million – $17.9 million – by buying shares in Green Technology to become a 7.89 per cent shareholder in the junior mining company.
For the rest of this article: https://www.northernontariobusiness.com/industry-news/mining/northwest-lithium-explorer-inks-deal-with-south-korean-battery-maker-7025042