Rock Tech Lithium announced a raw material supply agreement with C&D Logistics (Qingdao) Co., Ltd., a supply chain company under Fortune Global 500 member C&D Group.
TORONTO, April 30, 2024 /PRNewswire/ – Rock Tech Lithium Inc. (TSXV: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) (the “Company” or “Rock Tech”) We would like to announce the following. A final raw material supply agreement between RTT Lithium SA, a subsidiary of Rock Tech, and C&D Logistics (Qingdao) Co., Ltd., a supply chain company of C&D Group, ranked 69th on the Fortune Global 500 list. A contract was signed.
Under the feedstock supply agreement signed on April 23, 2024, C&D Logistics will supply up to the entire amount of spodumene concentrate needed to operate Rocktec's Guben Converter lithium refinery in Germany. . Deliveries under the contract will begin in 2025, with an initial period of five years. The agreement includes a pricing concept based on a market price index for lithium hydroxide monohydrate. Exact quantities and prices are confirmed annually.
C&D Logistics is a key partner in the lithium industry in Australia and China. The company has a long history of working closely with existing lithium converters and lithium mine operations. C&D Logistics specializes in procurement and supply chain services. RTT Lithium is a joint venture between Rock Tech and Transmine SA established in 2023 to facilitate the procurement and trading of spodumene concentrate for Rock Tech's converter projects.
Mirco Wojnarowicz, Rock Tech's Vice President of Business Development and Director of RTT Lithium commented: “This is a defining moment for Rock Tech and the European lithium industry. We are honored to have one of the world's largest companies as a strategic partner. With long-standing business relationships with existing spodumene producers in , Africa and Brazil, C&D will help Rock Tech significantly advance our Guben project.”
About Rocktech
Rock Tech is a cleantech company with a mission to produce lithium hydroxide for electric vehicle batteries in Canada and Germany. To ensure supply chain transparency and just-in-time delivery, the company is bringing lithium converters right to customers' doorsteps, starting with the company's proposed lithium hydroxide commercial converter and purification facility in Guben, Germany. I plan to build it. A second lithium converter will be built in Red Rock, Ontario, Canada. Rock Tech will source feedstock from its wholly-owned Lake Georgia pyroxene project in the Thunder Bay mining district of Ontario, Canada, as well as from other responsibly producing mines. In the coming years, we will also source raw materials from discarded batteries. To fill the most pressing gaps in the clean mobility story, Rock Tech has assembled one of the most powerful teams in the industry. We have adopted stringent environmental, social and governance standards and have developed proprietary refining processes aimed at further increasing efficiency and sustainability. Rock Tech's goal is to create a closed-loop lithium production system.
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Certain statements contained in this news release constitute “forward-looking information” under applicable securities laws and are referred to herein as “forward-looking statements.” All statements, other than statements of historical fact, that concern events, results, results or developments that the Company expects to occur are forward-looking statements. As used in this news release: “expects”, “anticipates”, “plans”, “anticipates”, “believes”, “estimates”, “intends”, “goals”, “project”, “predicts” , “may,” “will,” “should,” “will,” “could,” or the negative thereof, as well as other similar expressions, refer to forward-looking statements. The purpose is to identify the description. In particular, this press release contains forward-looking information regarding product volume and quality results from the mining operations of C&D Logistics (Qindao) Co. and/or its partners. the level and volatility of demand and supply, deliveries, and prices for lithium intermediate and finished products; costs and results of development, exploration and operational activities; Rock Tech's ability to procure supplies and other equipment necessary for its operations; ACCURACY AND RELIABILITY OF TECHNICAL DATA, FORECASTS, ESTIMATES, AND RESEARCH. Rock Tech's opinions, beliefs and expectations regarding the outcome of supply agreements, regulatory decisions and outcomes; Future exchange rates and interest rates. General Business and Economic Conditions. The company's unique business strategy and his ability to handle logistics and finance for RTT Lithium SA.
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Source Rock Tech Lithium Inc.
