Green Technology Metals meets with strategic investors to fund $1.2-billion lithium development
A key economic study posted this week by Australia’s Green Technology Metals “validates” their potential to become a large-scale lithium player in northwestern Ontario and Canada. With a proposed two-mine lithium operation valued at $1.2 billion in the works, the hunt is on to secure both private and government funding to make the mines and a Thunder Bay lithium refinery a reality.
Green Tech gave investors and stakeholders a better idea of what their mining and processing operations could look like with the release of a preliminary economic assessment (PEA), Dec. 7.
The company has two lithium deposits in the region. The most advanced is its flagship Seymour Project at the north end of Lake Nipigon, slated for production in late 2025, followed by its Root Project, northeast of Sioux Lookout, which could go into production by 2029.
Combined, the two mine projects contain a resource of 24.9 million tonnes of high-grade lithium-enriched spodumene rock at an average grade of 1.13 per cent of lithium oxide. From that resource, the company would annually produce 207,000 tonnes of spodumene concentrate for an initial 15-year period.