Rock Tech Lithium is planning to build a US$200 million lithium sulfate plant in Thunder Bay and Europe’s first lithium hydroxide converter facility in Germany to refine lithium hydroxide into battery grade.
Amid the mounting demand for electromobility, Rock Tech Lithium (TSXV:RCK,FWB:RJIB) Chairman Dirk Harbecke maps out the company’s plans to become a fully integrated producer of battery-grade lithium by bridging resource-rich Canada to process-focused Europe.
The company is planning to build a US$200 million lithium sulfate plant in Thunder Bay and Europe’s first lithium hydroxide converter facility in Germany to refine lithium hydroxide into battery grade.
“We are talking about something that is completely new to the North American and European worlds. What we have in mind is to build a straightforward facility in Germany to refine lithium hydroxide into battery grade and bring this into production by middle to end of 2023,” said Harbecke.
According to Harbecke, the world has seen an interesting move up in the process of lithium, and the first real upswing was from 2016 to the middle of 2018, when prices ranged from $5,500 to $25,000 per ton. Although Harbecke anticipates an undersupply of lithium, with prices going up to close to $20,000 by the end of the year again, the company has managed to get ahead of the curve.
“It is quite a challenge to get lithium processed in a reliable and sustainable way. So we started to get all relevant people on board that we consider to be necessary. Also, Germany is a very luxurious country and is not too open to newer industrial projects unless you are doing new things, which are high tech and in the new world standard,” Harbecke added.
Watch the full interview with Rock Tech Lithium (TSXV:RCK,FWB:RJIB) Chairman Dirk Harbecke above.
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