Rock Tech Lithium announces feedstock supply agreement with C&D Logistics (Qingdao) Co., Ltd., a supply chain enterprise under the C&D Group, a Fortune Global 500 member.
Rock Tech Lithium announces feedstock supply agreement with C&D
Logistics (Qingdao) Co., Ltd., a supply chain enterprise under the C&D
Group, a Fortune Global 500 member.
TORONTO
,
April 30, 2024
/CNW/ - Rock Tech Lithium Inc. (TSXV: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) (the "Company" or "Rock Tech") is
pleased to announce the execution of a definitive feedstock supply agreement between Rock Tech's subsidiary RTT Lithium SA and C&D Logistics (
Qingdao
) Co.,
Ltd., a supply chain enterprise of C&D Group which is ranked 69th on the Fortune Global 500 list.
Official signatory ceremony at C&D Logistics HQ with senior representatives of both companies attending. (CNW Group/Rock Tech Lithium Inc.)
Under the feedstock supply agreement which was signed on
April 23
2024 C&D Logistics will supply up to the full amount of spodumene concentrate required for
the operation of Rock Tech's Lithium refinery in
Germany
, the Guben Converter. The deliveries under the agreement will commence in 2025 and have an initial
term of five years. The agreement includes a pricing concept based on a lithium hydroxide monohydrate market price index. Exact quantities and prices will be
confirmed annually.
C&D Logistics is a major partner of the Australian and Chinese Lithium industry. The company has a long history of close cooperation with existing Lithium
converters and operating Lithium mines. C&D Logistics specializes in sourcing and supply chain services. RTT Lithium is a joint venture between Rock Tech and
Transamine SA established in 2023 to facilitate the sourcing and trading of spodumene concentrate for Rock Tech's converter projects.
Mirco Wojnarowicz
, Rock Tech's VP of Business Development and Director with RTT Lithium comments: "This is a decisive moment for Rock Tech and the
European lithium industry. We are honoured to have won one of the largest global companies as our strategic partner. With many years of lithium trading
experience and long-standing business relationships with existing spodumene producers in
Australia
,
Africa
and
Brazil
, C&D will help Rock Tech to significantly
advance our Guben project."
ABOUT ROCK TECH
Rock Tech is a cleantech company with operations in
Canada
and
Germany
on a mission to produce lithium hydroxide for electric vehicle batteries. The Company
plans to build lithium converters at the doorstep of its customers, to guarantee supply-chain transparency and just-in-time delivery, beginning with the Company's
proposed lithium hydroxide merchant converter and refinery facility in Guben,
Germany
. The second Lithium converter is planned to be built in
Red Rock, Ontario,
Canada
. Rock Tech plans to source raw material from its wholly-owned Georgia Lake spodumene project located in the Thunder Bay Mining District of
Ontario,
Canada
, as well as procuring it from other responsibly producing mines. In the years to come, the Company expects to also source raw material from discarded
batteries. To close the most pressing gap in the clean mobility story, Rock Tech has gathered one of the strongest teams in the industry. The Company has
adopted strict environmental, social and governance standards and is developing a proprietary refining process aimed at further increasing efficiency and
sustainability. Rock Tech's goal: to create a closed-loop lithium production system.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.
CAUTIONARY NOTE CONCERNING FORWARD-LOOKING INFORMATION
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, which address events, results, outcomes or developments that the Company expects
to occur are forward-looking statements. When used in this news release, words such as "expects", "anticipates", "plans", "predicts", "believes", "estimates",
"intends", "targets", "projects", "forecasts", "may", "will", "should", "would", "could" or negative versions thereof and other similar expressions are intended to
identify forward-looking statements. In particular, this press release contains forward-looking information pertaining to outcome of amount, quality of products
from C&D Logistics (Qindao) Co. and/or their partner's mining operations; the supply and demand for, deliveries of, and the level and volatility of prices of
intermediate and final Lithium products ; the costs and results of development, exploration and operating activities; Rock Tech's ability to procure supplies and
other equipment necessary for its business; and the accuracy and reliability of technical data, forecasts, estimates and studies; Rock Tech's opinions, beliefs and
expectations regarding the outcome of the supply agreement, regulatory decisions and outcomes; future exchange and interest rates; general business and
economic conditions; the Company's own business strategy and RTT Lithium SA's abilities to handle logistics and financing.
Forward-looking statements by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the
actual results to differ materially from the forward-looking statements. There may also be other factors that cause actual results to differ materially from the
forward-looking statements, including the risks, uncertainties and other factors discussed in the Company's most recent management's discussion and analysis
and annual information form filed with the applicable securities regulators, or known and unknown risks and uncertainties that may the Company's ability to access
additional funding required to invest in available opportunities and projects (including the Company's converter projects and the Georgia Lake project).
No assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, and the Company cautions the reader not
to place undue reliance upon any such forward-looking statements. The Company does not intend, nor does it assume any obligation to update or revise any of
the forward-looking statements, whether as a result of new information, changes in assumptions, future events or otherwise, except to the extent required by
applicable law.
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For further information:
Rock Tech Lithium Inc, 2400-333 Bay Street, Toronto ON M5H 2T6, CAN, Konstantin Burger, Head of Investor Relations,
[email protected] +49 89 244109149
CO: Rock Tech Lithium Inc.
CNW 01:30e 30-APR-24