TORONTO, Nov. 27,
2024 /CNW/ - Rock Tech Lithium Inc. (TSXV: RCK)
(OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) ("Rock Tech" or the
"Company") is proud to announce significant advancements at its
Guben Converter site in Germany,
bringing the project closer to completion of site preparation by Q1
2025.
Two key goals have recently been achieved:
- Railway Connection Approved: The state railway
supervisory authority (Landeseisenbahnaufsicht), within the
Ministry of Infrastructure and State Planning, has granted approval
to expand the Guben Süd industrial zone train line to Rock Tech's
site within the industrial area. This development will officially
connect the Guben Lithium Converter to Germany's rail network, enabling efficient
transportation of critical raw materials such as spodumene
concentrate from the ports of Hamburg and Bremen. The enhanced connection will also
streamline the movement of reagents and by-products, ensuring
smooth logistics for the facility's operations.
- Gas Pipeline Relocation Completed: The relocation
of the ONTRAS gas pipeline on the property has been finalized. The
relocated pipeline is in operation since the 07th Nov.
and Rock Tech has now taken possession of the pipeline, with full
ownership set to transfer on January 1,
2025, under the terms of a signed decommissioning
agreement.
These achievements mark significant progress in the development
of the Guben Converter site, a cornerstone of Europe's lithium supply chain. With nearly all
preparatory construction tasks complete, the final steps include
fencing the property and constructing a gas pressure reduction
station, both scheduled for early 2025.
"The completion of these milestones highlights the strong
collaboration between Rock Tech and our Guben region partners,"
said Henrik Wende, Plant Manager
Guben. "We extend our gratitude to the City of Guben for its
support and highly appreciate the availability of state funding for
infrastructure improvements in Guben. We thank ONTRAS for
assistance with gas pipe relocation, the State Railway Supervisory
Authority for the railway connection permit, and IPP Hydro Consult
GmbH for driving this project forward."
Rock Tech's Guben Converter is set to play a pivotal role in
Europe's transition to sustainable
energy by providing locally refined lithium hydroxide for electric
vehicle batteries. These recent developments reinforce the
Company's commitment to delivering a robust and efficient supply
chain solution for the European market.
ABOUT ROCK TECH
Rock Tech's vision is to supply the electric vehicle and battery
industry with sustainable, locally produced lithium, targeting a
100% recycling rate. To ensure resilient supply chains, the company
plans to build lithium converters at the doorstep of its customers,
beginning with the Company's proposed Lithium Hydroxide Converter
in Guben, Brandenburg, Germany.
The second Converter is planned to be built in Red Rock, Ontario, Canada. Rock Tech Lithium
plans to source raw material from its own Georgia Lake spodumene project in the Thunder
Bay Mining District of Ontario,
Canada, and procure from other ESG-compliant mines.
Ultimately, Rock Tech's goal is to create a closed-loop lithium
production system. Rock Tech has gathered one of the strongest
teams in the industry to close the most pressing gap in the clean
mobility story. The Company has adopted strict environmental,
social and governance standards and is developing a proprietary
refining process to increase efficiency and sustainability
further.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE
EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF
THIS RELEASE.
CAUTIONARY NOTE CONCERNING FORWARD-LOOKING INFORMATION
Certain statements contained in this news release constitute
"forward-looking information" under applicable securities laws and
are referred to herein as "forward-looking statements". All
statements, other than statements of historical fact, which address
events, results, outcomes or developments that the Company expects
to occur are forward-looking statements. When used in this news
release, words such as "expects", "anticipates", "plans",
"predicts", "believes", "estimates", "intends", "targets",
"projects", "forecasts", "may", "will", "should", "would", "could"
or negative versions thereof and other similar expressions are
intended to identify forward-looking statements. In particular,
this press release contains forward-looking information pertaining
to expectations concerning the Guben Converter, including the
design and features of the Guben Converter, as well as the expected
costs, capital expenditures, timing and outcomes thereof;
statements regarding the Company's future plans, estimates, and
schedules relating to the Guben Converter, including the
anticipated timing of future activities taken in support of the
development thereof; Rock Tech's potential financing arrangements;
the expected economic performance of the Guben Converter and
anticipated production of battery-grade lithium hydroxide and
related processing methods employed; the estimated capital and
operating costs of the Guben Converter; the anticipated timing and
outcomes of a final investment decision, construction activities
and commissioning of the Guben Converter; statements regarding the
Company's sustainability and ESG related goals and strategy,
including the benefits and achievement thereof and future actions
taken by the Company in relation thereto; expected regulatory
processes and final outcomes; expectations regarding the electric
vehicle industry, including the demand for and pricing of
battery-grade lithium hydroxide and the benefits therefrom, and the
development of political and regulatory frameworks especially in
Germany and the European Union;
Rock Tech's opinions, beliefs and expectations regarding the
Company's business strategy, development and exploration
opportunities and projects; and plans and objectives of management
for the Company's operations and properties. Forward-looking
statements by their nature are based on assumptions and involve
known and unknown risks, uncertainties and other factors which may
cause the actual results to differ materially from the
forward-looking statements, including the risks, uncertainties and
other factors discussed in the Company's most recent management's
discussion and analysis and annual information form filed with the
applicable securities regulators. No assurances can be given that
any of the events anticipated by the forward-looking statements
will transpire or occur, and the Company cautions the reader not to
place undue reliance upon any such forward-looking statements. The
Company does not intend, nor does it assume any obligation to
update or revise any of the forward-looking statements, whether as
a result of new information, changes in assumptions, future events
or otherwise, except to the extent required by applicable law.
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SOURCE Rock Tech Lithium Inc.