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BMI Group and Red Rock Indian Band have signed a Memorandum of Understanding (MOU) with Rock Tech to finalize evaluation and progression criteria for a 50-acre site in Red Rock Township.
The former Norampac paper mill had already been shortlisted as a component of the Rock Tech variety process. It is the closest to production with commercial capacity.
The network showed its attendance at the signing ceremony and expressed its enthusiasm for the region’s progress as a key component of the developing electric vehicle supply chain.
RED ROCK, ON, Nov. 3, 2023 /PRNewswire/ — Rock Tech Lithium Inc. (TSXV: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) (the “Company” or “Rock Tech”) and component BMI Group-Red Rock Indian Band are conducting a comprehensive investigation of the former Norampac paper mill site in Red Rock to make it a key component of Ontario’s electric vehicle supply chain. A memorandum of understanding outlining the next steps was signed at the site on Friday. along with Mayor Darquise Robinson, members of the network and business components.
The company’s Georgia Lake mine project is located along Highway 11, about an hour north of Red Rock. As the closest site to production with critical infrastructure pieces adding rail transportation, commercial power, and the nearby progression of the northernmost port in the Great Lakes, the location would arguably be well-positioned for an intermodal transshipment facility and potentially for the lithium refinery planned through Rock Tech.
At the event, Dirk Harbecke, CEO of Rock Tech, expressed his enthusiasm for the cooperation. “This partnership effectively embodies what is essential to us: diligent assessment, engagement with local and indigenous communities, and strong networks. It’s not just about a refinery, it’s about creating a new industry, securing the source of chemicals, the green energy, the source of batteries. Quality lithium and zero waste management. We have invested more than 350,000 engineering hours, completed the initial engineering and design, and established the mandatory commercial and source network through our existing Gumen converter project. These efforts are laying the groundwork for a shovel, an opportunity in a position for Ontario. To realize their potential, we want strong and competent partners.
Added Paul Veldman, Managing Partner of BMI Group. Al combining our infrastructure expertise and commercial progress, adding our Niagara Ports project, with Rock Tech’s technical expertise, we completed the exploration of a viable pathway for lithium processing and intermodal transportation in Red Rock and across the province. “2006, and with it, around three hundred jobs. This collaboration represents a vital step not only to meet demand for critical battery components, but also to bring back some of those jobs.
“We have the capacity, our workers have the capacity and we need to make them shine. We need to give other people a smart life. ” Said the head of the Indian band Red Rock, Marcus Hardy. “Refine where it is extracted” is not just a motto for us; This is an opportunity to create new jobs that contribute to the long-term of the mining industry. Coupled with the progress of the northernmost port in the Great Lakes and its ability to ease the strain of transportation on our northern highways, it has a chance to win. Gain opportunity value by making an investment in.
Rock Tech has said in the past that its Canadian lithium converter will be located in Ontario. Its engineering design of the Guben converter will be implemented in its Canadian counterpart, allowing the company to begin construction as early as 2025, pending entry permits and other partnership agreements. The company has conducted a series of tests to ensure that the refinery can process spodumene from a variety of resources and is adaptable to the region’s growing lithium industry.
The former pulp and paper mill domain located on the Red Rock Township waterfront and strategic collaboration have the potential to specifically contribute to the progress of a competitive provincial electric vehicle supply chain, creating new direct jobs upwards and driving positive social impact. and economic growth.
ABOUT ROCK TECHNOLOGY
Rock Tech is a blank power generation company in Canada and Germany whose project is to produce lithium hydroxide for electric vehicle batteries. The Company plans to build lithium converters at its customers’ doorsteps, to ensure source chain transparency and just-in-time delivery, starting with the commercial converter and lithium hydroxide refining facility provided through the Company in Guben, Germany. To close the most urgent hole in the history of white mobility, Rock Tech has assembled one of the most powerful groups in the industry. The company has followed strict environmental, social and governance criteria and is developing a proprietary refining process aimed at increasing potency and sustainability. Rock Tech plans to source raw curtains from its wholly owned Georgia Lake spodumene project in the Thunder Bay mining district of Ontario, Canada, as well as source them from other spodumene-producing mines. responsibly. In the coming years, the company also plans to source raw fabrics from discarded batteries. Rock Tech’s goal: create a closed-loop lithium production system. www. rocktechlithium. com
ABOUT LP BMI GROUP-RED ROCK INDIAN BAND JV
BMI Group is a real estate revitalization and development company specializing in the reuse and adaptive conversion of end-of-life advertising and advertising homes and their transition from linear to circular economies. The Red Rock Indian Band (RRIB) is an Ojibwe First Nation in northwestern Ontario, Canada. The Council is an independent member of the Ontario Indian Union, a provincial and territorial organization. The former mill is being developed in partnership with RRIB as a catalyst for the City of Red Rock and the Nipigon metro area. Aligned With the core themes of the municipality’s network progression strategy, the Plant Reprogression Conceptual Plan (2022) outlines BMI’s long-term aspirations for the former plant and its conceptual regression, adding its evolution to incorporate long-term opportunities, investments, and advertising interests. . https://www. thebmigroup. ca/
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is found in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY NOTE REGARDING FUTURE INFORMATION
Certain statements contained in this press release constitute “forward-looking information” under applicable securities laws and are referred to herein as “forward-looking statements. ” All statements, other than statements of past fact, that refer to events, effects, results or progressions that the Company expects to occur are forward-looking statements. When used in this press release, words such as “expects”, “anticipates”, “plans”, “predicts”, “believes”, “estimates”, “intends”, “targets”, “projects”, “forecasts” . “may”, “will”, “should”, “could”, “might” or their negative expressions and other similar expressions are intended to identify forward-looking statements. In particular, this press release includes forward-looking data relating to the effects of the site evaluation with RRIB-BMI JV LP and its partners, regulatory decisions and results; planned structure and its prices, schedules and completion dates; access to capital markets and other financing resources; origin and demand, deliveries, price and volatility of intermediate and final lithium products; exchange and long-term interest rates; general business and economic conditions; prices and effects of progression, exploration and exploitation activities; Rock Tech’s ability to acquire materials and other devices required for its business; and the correctness and correctness of data, forecasts, estimates and technical studies; ; Rock Tech’s opinions, ideals and expectations in relation to the latest results of the MOU, the Company’s own business strategy, opportunities and projects for progression and exploration, and the company’s operations and asset control plans and objectives; and the ability of RRIB-BMI JV LP to acquire materials and other appliances required for its business; the continued progression of the Red Rock port area, the accuracy and accuracy of technical data, forecasts, estimates and studies.
Forward-looking statements by their nature are based on assumptions and involve known and unknown dangers, uncertainties and other points that would possibly cause actual effects to differ materially from forward-looking statements. There may also be other points that cause forward-looking statements to be true. effects to differ materially from the forward-looking statements, adding the dangers, uncertainties and other points discussed in the Company’s most recent management annual information and discussion and analysis form filed with the applicable securities regulatory authorities, or known and unknown perils and uncertainties that may also simply affect the Company’s ability to access the additional financing required to invest in available opportunities and projects (adding Project Converter and Project Georgia Lake).
There can be no assurance that any of the occasions expected through the forward-looking statements will happen or will happen, and the Company cautions readers not to place undue reliance on such forward-looking statements. The Company does not intend or assume any obligation to, update or revise any forward-looking statements, whether as a result of new information, adjustments in assumptions, long-term occasions or otherwise, to the extent required by applicable law.
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SOURCE Rock Tech Lithium Inc.
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