- Rock Tech (RCK) has signed a memorandum of understanding (MOU) with thyssenkrupp Materials to supply lithium spodumene concentrate
- thyssenkrupp is the largest mill-independent materials distributor and service provider in the Western world
- Rock Tech intends to refine the mineral toward the end of 2024 at its proposed converter in Guben, Germany
- Rock Tech Lithium is a cleantech company that aims to supply the automotive industry with high-quality lithium hydroxide
- Rock Tech (RCK) is up by 6.7 per cent trading at $4.30 per share
Rock Tech (RCK) has signed an MOU with thyssenkrupp to supply lithium spodumene concentrate.
thyssenkrupp Materials Services is the largest mill-independent materials distributor and service provider in the Western world with a presence in more than 30 countries.
Rock Tech intends to refine the mineral into high-purity lithium hydroxide, an essential component of batteries for EVs and plug-in hybrids, toward the end of 2024 at its proposed converter in Guben, Germany.
The converter would be Europe’s first and boast a capacity of 24,000 tonnes per year.
thyssenkrupp may also purchase other by-products resulting from the refining process.
The companies expect the partnership to fortify the supply chain for lithium out of Germany to meet EV demand.
“With thyssenkrupp Materials Trading we have found a global logistics and trading partner that gives us further security in the supply of spodumene,” stated Markus Brügmann, Rock Tech’s CEO. “This is expected to give us a broader base for our input stream, which would take us a big step forward on the road to success.”
“The potential partnership with Rock Tech underlines the systematic expansion of our global trading activities in the international battery and electric vehicles industry,” added Wolfgang Schnittker, CEO of thyssenkrupp. “The trading of lithium products would add another very important raw material to our supply portfolio for the production of long-life batteries.”
Rock Tech Lithium is a cleantech company that aims to supply the automotive industry with high-quality lithium hydroxide.
Rock Tech (RCK) is up by 6.7 per cent trading at $4.30 per share as of 10:27 am EST.