- Binding offer received for the supply of minimum 250,000 dry metric tonnes of spodumene concentrate over the course of 5 years.
- Discussions continue with additional feedstock partners with further agreements expected in due course.
TORONTO, Dec. 4, 2023 /PRNewswire/ - Rock Tech Lithium Inc. (TSXV:RCK) (OTCQX:RCKTF) (FWB: RJIB) (WKN: A1XF0V) (the "Company" or "Rock Tech") is pleased to announce that it has received a binding feedstock supply offer (the "Offer") from Castelburg Industrie GmbH ("Castelburg"). Castelburg, a renowned supplier in the automotive industry commits to supply a minimum of 250,000 dry metric tonnes of spodumene concentrate feedstock for the Company's conversion facility in Guben, Germany over an initial five-year term of the envisaged agreement starting in 2024.
The execution of the binding supply agreement based on the terms of the Offer is subject to a positive result of ongoing due diligence. Under the supply agreement Rock Tech will annually source up to 60,000 dry metric tonnes from Castelburg's source in Salta, Argentina, starting in H2 2024. The price of the spodumene concentrate is based on a discount to market prices and will be adjusted for the actual Li2O content. The supply agreement further provides for a potential increase of volumes and extension of the initial term subject to mutual agreement by the contract parties.
Dirk Harbecke, Rock Tech's Chairman and CEO comments, "This is an important milestone for Rock Tech and the advancement of our Guben project, as independent 3rd party feedstock ...