Nemaska Lithium Completes Acquisition of Shawinigan Facilities, Quebec

Nemaska Lithium Inc. (TSXV:NMX,OTCQX:NMKEF) announced the closing of the purchase agreement with Société de développement Shawinigan for the part of the land and the selected existing buildings of the former Resolute Forest Products’ Laurentide plant in Shawinigan, Quebec.
Nemaska Lithium Inc. (TSXV:NMX,OTCQX:NMKEF) announced the closing of the purchase agreement with Société de développement Shawinigan for the part of the land and the selected existing buildings of the former Resolute Forest Products’ Laurentide plant in Shawinigan, Quebec.
As quoted in the press release:
The Shawinigan Site will house Nemaska Lithium’s Phase 1 Plant and the future Commercial Hydromet Plant that will convert spodumene concentrate into high purity lithium hydroxide and lithium carbonate. The purchase price of $2M is to be paid in two instalments, a first tranche of $300,000 and a second tranche of $1.7M. The first tranche was put in escrow at the signature of the purchase agreement and should be released once the Corporation receives the construction permit for the Phase 1 Plant. The second tranche will be paid closer to the construction start date of the Commercial Hydromet Plant, once the construction permits are obtained.
Nemaska Lithium selected the site for several key factors including:
- excellent quality and state of existing buildings, significantly reducing capital costs and time over new construction options;
- existing and ready to use infrastructure required for the operation, including natural gas, electric power station and railway; and finally
- proximity of Shawinigan to the Whabouchi mine site, keeping concentrate transportation costs low.
Nemaska Lithium Director of Environmental and Social Responsibility, Simon Thibault, stated:
We expect to create approximately 100 skilled jobs in Shawinigan starting with the Phase 1 Plant and then the Commercial Hydromet Plant to follow. Now that we are the owner of the site, we look forward to speaking with the people of Shawinigan on how this project will benefit the area and create new opportunities and economic growth.
Connect with Nemaska Lithium Inc. (TSXV:NMX,OTCQX:NMKEF) to receive an Investor Presentation.
MARKETS
COMMODITIES
Commodities | |||
---|---|---|---|
Gold | 1846.53 | +0.13 | |
Silver | 21.75 | +0.03 | |
Copper | 4.30 | +0.02 | |
Palladium | 1968.65 | +11.53 | |
Platinum | 957.67 | +3.19 | |
Oil | 110.35 | -1.86 | |
Heating Oil | 3.62 | -0.05 | |
Natural Gas | 8.06 | -0.25 |
DOWNLOAD FREE REPORTS
BROWSE COMPANIES BY SECTOR
- Agriculture Investing
- Phosphate Investing
- Potash Investing
- Base Metals Investing
- Copper Investing
- Iron Investing
- Lead Investing
- Nickel Investing
- Zinc Investing
- Battery Metals Investing
- Cobalt Investing
- Graphite Investing
- Lithium Investing
- Manganese Investing
- Vanadium Investing
- Critical Metals Investing
- Magnesium Investing
- Rare Earth Investing
- Scandium Investing
- Tantalum Investing
- Tellurium Investing
- Tungsten Investing
- Energy Investing
- Oil and Gas Investing
- Uranium Investing
- Gem Investing
- Diamond Investing
- Industrial Metals Investing
- Aluminum Investing
- Chromium Investing
- Coal Investing
- Molybdenum Investing
- Tin Investing
- Precious Metals Investing
- Gold Investing
- Palladium Investing
- Platinum Investing
- Silver Investing
- 3D Printing Investing
- Bitcoin Investing
- Blockchain Investing
- Cleantech Investing
- Cloud Investing
- Cryptocurrencies
- Data Investing
- Emerging Tech Investing
- Artificial Intelligence Investing
- Mobile Investing
- Robotics Investing
- Fintech Investing
- Gaming Investing
- Esports Investing
- Nanoscience Investing
- Graphene Investing
- Nanotech Investing
- Security Investing
Featured stocks
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.