- Rock Tech Lithium Inc. (RCK) has signed a definitive agreement with Transamine Holdings and Investments Limited to form a joint venture entity, RTT Lithium SA
- RTT will manage the spodumene concentrate from global mining companies and spodumene producers and arrange related services
- Transamine will provide financing, and Rock Tech will support the identification of spodumene producers, among other services
- The joint venture will be split evenly based in Geneva, Switzerland, by the end of this year
- Rock Tech Lithium Inc. (RCK) is up 1.21 per cent and is trading at $3.35 per share as of 12:46 p.m. ET
Rock Tech Lithium (RCK) has signed a definitive agreement with Transamine Holdings and Investments Limited to form a joint venture entity, RTT Lithium SA.
As per the agreement, RTT will manage the procurement of spodumene concentrate from global mining companies and spodumene producers and arrange related services.
Transamine agreed to provide related financing, and Rock Tech will support the identification of spodumene producers, marketing activities, and environmental, social, and governance auditing and compliance.
RTT will identify, pursue, and secure the supply of a new route for lithium-bearing spodumene for Rock Tech’s planned European lithium converters. It is also expected to offer spodumene producers a single resilient and transparent off-take option by providing feedstock to Rock Tech.
Markus Bruegmann, CEO of Rock Tech, commented,
“RTT is expected to provide Rock Tech with the capacity to secure a deep pipeline of potential raw material sources and is an important step in advancing the company’s diversified sourcing strategy.”
The companies’ ultimate objective is to supply lithium to customers in the European automotive sector.
RTT will be an evenly split joint venture company based in Geneva, Switzerland, and will be formed by this year’s end.
Rock Tech Lithium Inc. (RCK) is up 1.21 per cent and is trading at $3.35 per share as of 12:46 p.m. ET.