Rock Tech Lithium and Transamine to boost lithium supply in Europe
by CM Staff
The agreement will help the company's diversified sourcing strategy for the supply of lithium products to Europe's EV market.
VANCOUVER — Rock Tech Lithium Inc. has signed a non-binding term sheet with Swiss-based commodity trading company Transamine SA, which provides for cooperation and collaboration between the parties in sourcing and supplying lithium spodumene concentrate feedstock for Rock Tech’s proposed European lithium hydroxide converters.
Rock Tech and Transamine have agreed to engage in substantive negotiations regarding a potential joint venture to pursue the development of an integrated spodumene concentrate supply chain, which would help advance the company’s diversified sourcing strategy for the supply of lithium products to the European electric vehicle market. The validity of this agreement is set to last until the end of August 2022, but the parties may extend upon mutual agreement.
“In order to support automobile customers in the coming years, during which an upsurge in electric vehicles is expected in Europe, securing the supply chain of lithium hydroxide for batteries is going to be critical. With their established expertise, Transamine would represent an ideal partner for Rock Tech in sourcing the raw material needed for our lithium hydroxide converters. In times of disruption, a partnership with Transamine would further help to secure a resilient supply chain for our operations,” said Markus Brügmann, CEO of Rock Tech Lithium in a statement.