Rock Tech, Imagine Lithium see ‘synergies’ in teaming up to feed proposed North Shore refinery
Some consolidation could be in the cards for two lithium explorers near Lake Nipigon. Rock Tech Lithium, the promoter of a lithium refinery on the north shore of Lake Superior, has inked a memorandum of understanding with its exploration neighbour, Imagine Lithium, to team up and collectively bring their properties into production.
That partnership could come in the form of a merger and acquisition arrangement, a commercial partnership, and joint development of their respective projects.
In a news release this week, the two companies are contemplating working together on a combined land package of 25,000 hectares that contains a significant amount of spodumene-bearing pegmatite host rock. Spodumene is considered the most preferable lithium ore mineral because of its high lithium content.
By partnering, the companies will “explore proximal synergies” that could potentially feed more mined material into a centrally located concentrator and Rock Tech’s proposed lithium refinery in northwestern Ontario. The refinery would make a value-added, battery-grade product for the electric vehicle market.