- Rock Tech Lithium’s (TSXV:RCK) upcoming lithium converter in Guben, Germany, has been designated a Strategic Project under the European Union’s Critical Raw Materials Act
- The Guben converter is expected to yield 24,000 tons of lithium hydroxide per year, enough to supply over 500,000 electric vehicles
- Rock Tech intends to supply the electric vehicle and battery industry with sustainable, locally produced lithium
- Rock Tech Lithium stock has added 6.09 per cent year-over-year and 190.48 per cent since 2020
Rock Tech Lithium’s (TSXV:RCK) upcoming lithium converter in Guben, Germany, has been designated a Strategic Project under the European Union’s (E.U.) Critical Raw Materials Act.
The award, according to Wednesday’s news release, “underscores the importance of Rock Tech’s Guben converter to the European battery materials supply chain and further accelerates the company’s mission to provide Europe with sustainable, locally produced lithium.”
The Guben converter is expected to yield 24,000 tons of battery-grade lithium hydroxide per year, which is enough to build over 500,000 electric vehicles. The construction-stage project boasts a post-tax net present value (8 per cent) of US$1.24 billion with capital expenditures estimated at US$762 million.
The Critical Raw Materials Act, instituted in May 2024, aims to fortify the E.U.’s supply of 17 commodities essential for the energy transition, focusing on improving domestic capacity for extraction, processing and refining.
Rock Tech’s project – selected among over 170 applications – may benefit from 2 billion euros the European Commission announced that it will set aside to support strategic projects through financing and guarantees.
The company plans to build its second converter in Red Rock, Ontario, sourcing material from its Georgia Lake spodumene project (reserves of 7.33 million tons at 0.82 per cent Li2O) in the nearby Thunder Bay Mining District, as well as other ESG-compliant mines.
Leadership insights
“This milestone not only affirms the strategic value of our Guben project but also positions us as a key enabler of Europe’s green industrial future. We are honored to be recognized as a Strategic Project by the European Commission and remain fully committed to advancing a secure, sustainable and independent lithium supply for Europe,” Dirk Harbecke, Rock Tech Lithium’s chairman and chief executive officer, said in a statement.
About Rock Tech Lithium
Rock Tech intends to supply the electric vehicle and battery industry with sustainable, locally produced lithium.
Rock Tech Lithium stock (TSXV:RCK) last traded at C$1.22 per share. The stock has added 6.09 per cent year-over-year and 190.48 per cent since 2020.
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(Top image of Rock Tech Lithium’s Guben lithium converter plant: Rock Tech Lithium)
