- Avalon (AVL) and Fort William First Nation have signed a letter of intent to jointly develop the Thunder Bay Lithium Refinery
- The refinery will be located on industrial lands owned by FWFN
- The facility will convert lithium mineral concentrates into lithium hydroxide and other lithium battery materials
- Avalon and Rock Tech (RCK) will supply the concentrates
- Next steps include finalizing design, location and financing
- The anticipated initial design capacity will be for 15,000 tonnes of lithium concentrate per year
- Avalon is a Canadian mineral development company specializing in sustainably-produced materials for clean technology
- Avalon Advanced Materials (AVL) is up 10.26 per cent and is currently trading at C$0.215 per share
Avalon (AVL) and Fort William First Nation have signed a letter of intent to jointly develop the Thunder Bay Lithium Refinery.
The refinery will be located on industrial lands owned by FWFN.
The facility will convert lithium mineral concentrates into lithium hydroxide and other lithium battery materials. The concentrates will be supplied by Avalon’s Separation Rapids Lithium Project, Rock Tech’s (RCK) Georgia Lake Lithium Project, as well as other emerging lithium mining operations in Northern Ontario.
The anticipated initial design capacity will be 15,000 tonnes per year of lithium hydroxide, lithium carbonate and lithium sulphate.
Next steps in the development process include:
- Identification of a waterfront location for the refinery with access to transportation infrastructure, hydro power and natural gas
- Conducting the necessary engineering, site preparation and construction design studies to prepare for construction in 2022
- Finalizing the initial design capacity facility once firm commitments have been secured from interested battery manufacturers
- Securing the necessary capital required to proceed with construction in 2022
Don Bubar, Avalon’s President and CEO, commented,
“We are delighted to have the opportunity to create a new precedent for collaboration with Indigenous business toward establishing a lithium battery materials supply chain in Northern Ontario.
I share FWFN Chief Peter Collins’ vision for how this operation can inspire other Indigenous businesses to become future suppliers of lithium mineral concentrates for the refinery and how FWFN can become the hub of the North for all First Nation communities in Northwestern Ontario.”
Avalon is also reporting that the bulk sampling program on its Separation Rapids Lithium Deposit is progressing well with 80 per cent of the 5,000 tonne sample ready for crushing and shipping for processing.
The bulk sample will be used to finalize process flow sheets for both the lithium hydroxide product and for making petalite product samples for glass-ceramic industry customers that have expressed interest.
Avalon Advanced Materials is a Canadian mineral development company specializing in sustainably-produced materials for clean technology. The company has four advanced projects providing investors with exposure to lithium, tin, indium, rare earths, tantalum and cesium.
Avalon Advanced Materials (AVL) is up 10.26 per cent and is currently trading at C$0.215 per share as of 1:37 pm ET.