Abitibi Metals boosts resource by 62% at B26 polymetallic deposit in Quebec
Indicated resources increased to 11.3 million tonnes from 6.9 Mt.
As part of its strategy to become a vertically integrated lithium producer, Avalon Advanced Materials (TSX: AVL) has acquired an industrial site in Thunder Bay, Ontario which has an existing road, rail, deep-water port, and utilities services for its planned midstream lithium-hydroxide (LiOH) processing facility.
The facility will ensure the long-term security of domestic lithium processing capacity required for North America’s electric vehicle (EV) and battery supply chain —a core objective of both the Ontario and Canadian governments, Avalon said in a media statement.
Thunder Bay, population 125,000, is located at a provincial midpoint between the resources of the north and downstream EV battery and automotive manufacturing hubs in the south.
“In addition to accelerating onshore EV production capacity, our plan will help achieve a geostrategic priority for Canada and other G7 nations to establish stable, secure access to refined raw material,” Avalon president Zeeshan Syed said in the statement.
“While there is more work to do with our government and community partnerships, we are confident we will help close the gap between increasing demand and domestic supply of this key resource and help fortify North American energy security.”
With the finalization of the site purchase, Avalon’s focus moves to build upon its relations with First Nations partners, the local community and government, it said.
When complete, the integrated project will create an estimated 500 jobs in the city of Thunder Bay and in Kenora, and enable broader development of northwestern Ontario’s lithium assets by producers seeking to utilize the proximity of Avalon’s processing capacity, it said.
The company also said the planned plant will demonstrate best-in-class environmental and sustainability process innovation and create supply chain efficiencies by connecting lithium assets in the north with regional processing capacity thus leading to a decreased life-cycle carbon footprint compared to producers who ship raw materials to processing facilities overseas.
The Thunder Bay site acquisition follows Avalon entering a strategic partnership with Antwerp-based SCR-Sibelco NV.
The agreement with Sibelco secured C$63 million ($47m) of new investment to facilitate the development of Avalon’s vision of becoming a vertically integrated lithium producer.
The companies are also forming a joint venture with respect to Avalon’s lithium projects, including Separation Rapids and Lilypad in northwestern Ontario. Sibelco will act as operator and has committed to invest €35 million ($38.3m) into the joint venture.
Comments
Ericu
I don’t approve of this rape of my people’s land this will destroy more then it helps EVs are not the future you people are morons.
Synthetic fuel is the future period no adjustments required just need some plants there was a point synthetic oil was rare and expensive and now it’s basically the only option