- Lithium Americas Corp. (LAC) has entered a Strategic Collaboration Agreement with Green Technology Metals Ltd. (GT1)
- The companies will collaborate to advance a common goal of developing an integrated lithium chemical supply chain in North America
- The agreement includes the establishment of a Strategic Management Committee comprised of equal representatives from Lithium Americas and GT1
- GT1 is a North American-focused lithium exploration and development business whose strategy is to build a lithium business in Ontario
- Lithium Americas is focused on advancing lithium projects in Argentina and the United States to production
- Lithium Americas Corp. (LAC) is down 0.15 per cent, trading at C$38.91 per share at 9:45 am ET.
Lithium Americas Corp. (LAC) has entered a Strategic Collaboration Agreement with Green Technology Metals (GT1).
The companies will collaborate to advance a common goal of developing an integrated lithium chemical supply chain in North America.
Highlights:
- Collaboration Agreement executed with GT1, a North American-focused lithium exploration and development company with hard rock spodumene assets in northwest Ontario, Canada.
- Builds upon Lithium Americas’ previous strategic equity investment in GT1 of US$10 million and established collaboration framework.
- Provides non-exclusive rights to undertake collaborative activities between the two parties.
- Establishes a Strategic Management Committee for further joint exploration and development opportunities with a focus on Canada and the U.S.
Jonathan Evans, Lithium Americas’ President & CEO, commented on the agreement.
“As we prepare to commence construction at Thacker Pass, we see an opportunity to further strengthen our role in developing a North American lithium supply chain. On the back of the passing of the Inflation Reduction Act by U.S. Congress, we are having increased engagement with potential partners, and customers focused on North America. Working with GT1 allows us to leverage our chemicals-focused team based in the U.S. and GT1’s extensive experience in hard rock exploration and development.”
GT1’s Director, Cameron Henry, added,
“The collaboration between the groups has already commenced alongside Primero Group, making the combination of hard rock lithium development and processing one of the world-renowned experiences that will continue the growth of both businesses. Both GT1 and Lithium Americas have the shared objective of building the pre-eminent vertically integrated lithium business in North America. With the recent passing of the IRA and the substantial domestic battery minerals sourcing requirements imposed on car manufacturers seeking to attract consumer tax credits for their vehicles, the value of this end goal has increased again.”
In North America, Lithium Americas is focused on developing its 100 per cent-owned Thacker Pass project in Nevada. The company is preparing to commence construction, including planning early-works construction for late 2022.
Following Lithium Americas’ strategic equity investment of US$10 million in April and entry into an initial non-binding collaboration framework agreement with GT1, the agreement provides non-exclusive rights for Lithium Americas and GT1 to undertake collaborative activities. This agreement is a further step forward for both parties in their goal toward the joint development of midstream and downstream processing strategies and routes for battery-grade lithium chemicals in Ontario and across North America.
The agreement includes the establishment of a Strategic Management Committee comprised of equal representatives from Lithium Americas and GT1 to discuss strategic opportunities for joint exploration or development and pursuit, establish a strategy development framework and facilitate and oversee a joint development plan.
GT1 is a North American-focused lithium exploration and development business. GT1’s strategy is to build a lithium business in Ontario.
Lithium Americas is focused on advancing lithium projects in Argentina and the United States to production.
Lithium Americas Corp. (LAC) is down 0.15 per cent, trading at C$38.91 per share at 9:45 am ET.
