Rock Tech signs spodumene supply deal with Transamine

Rock Tech Lithium has entered into a binding semipermanent offtake statement with Geneva, Switzerland-based commodity trading steadfast Transamine for the proviso of spodumene ore from its afloat owned Georgia Lake task successful Ontario, Canada.

Under the presumption of the agreement, Transamine volition bargain spodumene ore implicit an archetypal seven-year period, with the enactment for up to 5 further years.

Contracted volumes are acceptable to statesman astatine 50,000 adust tonnes (dt) successful the archetypal twelvemonth and summation to 100,000dt per annum thereafter, with a tolerance of positive oregon minus 10% successful favour of Rock Tech.

The parties person agreed to reappraisal and set some quantities and proviso schedules based connected the result of a definitive feasibility survey (DFS).

The statement anticipates that deliveries volition commence successful 2028, taxable to the contract's transportation presumption and immoderate revisions the parties whitethorn hold aft the DFS is completed.

In addition, the declaration provides for a imaginable improvement prepayment installation of up to $80m to enactment the Georgia Lake Project.

The installation would transportation involvement astatine the three-month CME Term Secured Overnight Financing Rate positive 2.95% annually and beryllium repaid done shipments implicit a two-year play from archetypal delivery.

The magnitude and precise presumption of the prepayment are to beryllium finalised pursuing completion of the DFS and taxable to modular conditions including financing, permitting and satisfactory owed diligence.

Rock Tech CEO Mirco Wojnarowicz said: "This statement demonstrates however Rock Tech is turning captious minerals ambition into execution.

"Together with the prepayment facility, the statement brings america different measurement person to gathering an integrated mine-to-converter level and supporting a stable, unafraid proviso of battery-grade lithium for Canada and its allies."

The declaration references the Fastmarkets benchmark terms for spodumene ore (minimum 6% lithium oxide, CIF China), with adjustments for existent delivered grade.

A level terms mechanics is included, taxable to presumption relating to resale markets, ostentation accommodation and task financing.

The statement besides outlines the anticipation of transitioning immoderate oregon each deliveries into offtake for battery-grade lithium hydroxide monohydrate oregon lithium carbonate, if Rock Tech's Red Rock Lithium Converter requires concentrate.

This would impact mutually agreeing connected conversion mechanisms, merchandise specifications, pricing and schedules.

In February 2025, Rock Tech signed a binding concern operation statement with Swiss inferior mining institution Arcore to merge their subsidiaries and found a caller European entity named NewCo.

"Rock Tech signs spodumene proviso woody with Transamine" was primitively created and published by Mining Technology, a GlobalData owned brand.