— Photo courtesy Namaska Lithium
Nemaska Lithium Inc. (the “Corporation”) (TSX: NMX) (OTCQX: NMKEF) (Frankfurt: N0T) is pleased to announce that it has modified and expanded its existing long-term supply agreement (announced May 11, 2016) for battery grade lithium hydroxide with Johnson Matthey Plc (LSE: JMAT).
Under this amended agreement, Nemaska Lithium agrees to supply Johnson Matthey, on a take-or-pay basis and through its wholly-owned subsidiary Nemaska Lithium Shawinigan Transformation Inc., a total of 61,000 tonnes of lithium hydroxide produced at the Corporation’s commercial plant in Shawinigan, for an initial 10-year supply period scheduled to start in 2021. Nemaska Lithium is entitled, if ever necessary, to reschedule the commencement of the supply period within certain parameters set out in the agreement and based on the anticipated commissioning, ramping up and production start date for the Shawinigan plant.
To date, Johnson Matthey received over 80 tonnes of battery grade lithium hydroxide solution from Nemaska Lithium’s Phase 1 Plant in Shawinigan and started receiving lithium hydroxide monohydrate earlier this month.
Guy Bourassa, President and CEO of Nemaska Lithium said, “Johnson Matthey has been a long-term and valued partner and customer of Nemaska Lithium. Our relationship began in 2015/2016 with the financing and construction of the Phase 1 Plant and we are delighted to be expanding on our initial commercial supply contract.”
*Production from the Phase 1 Plant is not included in the commercial supply agreement announced today.
Nemaska Lithium Inc. is a developing chemical company whose activities will be vertically integrated, from spodumene mining to the commercialization of high-purity lithium hydroxide and lithium carbonate. These lithium salts are mainly destined for the fast-growing lithium-ion battery market, which is driven by the increasing demand for electric vehicles and energy storage worldwide. With its products and processes, the Corporation intends to facilitate access to green energy, for the benefit of humanity.
The Corporation will be operating the Whabouchi mine in Québec, Canada, one of the richest lithium spodumene deposits in the world, both in volume and grade. The spodumene concentrate produced at the Whabouchi mine will be processed at the Shawinigan plant using a unique membrane electrolysis process for which the Corporation holds several patents.
The Corporation is a member of the S&P/TSX SmallCap Index, S&P/TSX Global Mining Index, S&P/TSX Global Base Metals Index, S&P/TSX Equal Weight Global Base Metals Index, and the MSCI Canada Small Cap Index. For more information, visit www.nemaskalithium.com.
Johnson Matthey is a global leader in science that enables a cleaner and healthier world. With over 200 years of sustained commitment to innovation and technological breakthroughs, we improve the performance, function and safety of our customers’ products. Our science has a global impact in areas such as low emission transport, pharmaceuticals, chemical processing and making the most efficient use of the planet’s natural resources. Today more than 14,000 Johnson Matthey professionals collaborate with our network of customers and partners to make a real difference to the world around us. For more information, visit www.matthey.com
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