GUBEN, GERMANY, Jan. 12,
2023 /CNW/ - Rock Tech Lithium Inc. (TSXV:
RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) (the "Company" or
"Rock Tech") has received permission for an early start to the
construction of its lithium converter in Guben, Germany (the "Guben Converter"). The first
significant work onsite for this strategic critical mineral project
is expected within the upcoming next weeks.
From 2025, the Guben Converter is expected to produce around
24,000 tonnes of battery-grade lithium hydroxide. For this purpose,
Rock Tech recently received approval from the responsible
Brandenburg State Office for the Environment for an early start
related to the first tranche of permits. Rock Tech plans to start
initial work on the project, with an estimated cost of 650 million euros, on its own property on the
industrial park in Guben in the upcoming weeks.
Rock Tech applied for the first partial permit and approval for
early start in February 2022. In the
course of the application procedure, which involved public
participation, no objections were received under approval
regulations. Rock Tech considers this to be a positive indication
of support for the construction of the Guben Converter and at the
same time appreciates the efficient and transparent cooperation
with the authorities.
"Our converter will be the first of its kind in Europe. The production of our battery-grade
lithium hydroxide will be an essential part of the battery mineral
supply chains in Europe - this is
another reason why the approval by the authority is an important
step towards implementation and sends a clear signal to the
market," adds Klaus Schmitz, Rock
Tech's Chief Operating Officer.
The approval for an early start is also an encouraging indicator
that permission for construction of the Guben Converter will be
granted in due course. In November, Rock Tech has submitted the
second and final tranche of permit applications for this to the
authority. Approval for construction of the Guben Converter is
expected from summer 2023 onwards.
To date, more than 250,000 working hours and over 45 million euros have been invested by Rock Tech
in the planning the design and construction of the Guben Converter.
With the early start permission, necessary groundwork as well as
the construction of roads, office and storage buildings can
begin.
ABOUT ROCK TECH
Rock Tech is a cleantech company on a mission to produce lithium
hydroxide for EV batteries. The Company plans to build lithium
converters at the door-step of its customers, to guarantee
supply-chain transparency and just-in-time delivery. To close the
most pressing gap in the clean mobility story, Rock Tech has
gathered one of the strongest teams in the industry. The Company
has adopted strict ESG standards and is developing a proprietary
refining process aimed at further increasing efficiency and
sustainability. Rock Tech plans to source raw material from its own
mineral project in Canada as well
as procuring it from other responsibly producing mines. In the
years to come, the Company expects to also source raw material from
discarded batteries. Rock Tech's goal: to create a closed-loop
lithium production system.
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
The following cautionary statements are in addition to all other
cautionary statements and disclaimers contained elsewhere in, or
referenced by, this press release.
Certain information set forth in this press release constitutes
"forward-looking information" (collectively, "forward-looking
information") within the meaning of applicable Canadian securities
laws, which information is based on Rock Tech's current
expectations, estimates, and assumptions in light of its experience
and perception of historical trends. All statements other than
statements of historical facts may constitute forward-looking
information. Often, forward-looking information can be identified
by the use of words or phrases such as "estimate", "project",
"anticipate", "expect", "intend", "believe", "hope", "may" and
similar expressions, as well as "will", "shall" and all other
indications of future tense. All forward-looking information set
forth in this press release is expressly qualified in its entirety
by the cautionary statements referred to in this section.
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
expectations regarding the FEL3 study including the related
activities, findings and uses thereof; 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, including in relation to
the timing of TG-1 and TG-2 approvals; 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 information is based on certain estimates,
expectations, analysis and opinions that are believed by management
of Rock Tech to be reasonable at the time they were made or in
certain cases, on third party expert opinions. It should be noted
that, in order to proceed with the planned investment of
650 million euros contained herein,
Rock Tech will be required to raise additional funding and the
availability of financing on satisfactory terms is not guaranteed.
This forward-looking information was derived utilizing numerous
assumptions regarding, among other things, the supply and demand
for, deliveries of, and the level and volatility of prices of,
intermediate and final lithium products, expected growth,
performance and business operation, prospects and opportunities,
general business and economic conditions, results of development
and exploration, Rock Tech's ability to procure supplies and other
equipment necessary for its business, including development and
exploration activities, and timing related to government approvals.
The foregoing list is not exhaustive of all assumptions which may
have been used in developing the forward-looking information. While
Rock Tech considers these assumptions to be reasonable based on
information currently available, they may prove to be incorrect.
Forward-looking information should not be read as a guarantee of
future performance or results.
In addition, forward-looking information involves known and
unknown risks and uncertainties and other factors, many of which
are beyond Rock Tech's control, that may cause Rock Tech's actual
events, results, performance and/or achievements to be materially
different from that which is expressed or implied by such
forward-looking information. Risks and uncertainties that may cause
actual events, results, performance and/or achievements to vary
materially include the risk that Rock Tech will not be able to meet
its financial obligations as they fall due, delays in government
approval for the construction of the Guben Converter, changes in
commodity prices, Rock Tech's ability to retain and attract skilled
staff and to secure feedstock from third party suppliers,
unanticipated events and other difficulties related to
construction, development and operation of converters and mines,
the cost of compliance with current and future environmental and
other laws and regulations, title defects, competition from
existing and new competitors, changes in currency exchange rates
and market prices of Rock Tech's securities, Rock Tech's history of
losses, impacts of climate change and other risks and uncertainties
discussed under the heading "Financial Instruments and Other Risks"
in Rock Tech's most recently filed Management Discussion and
Analysis, a copy of which is filed electronically through SEDAR and
is available online at www.sedar.com. Such risks and uncertainties
do not represent an exhaustive list of all risk factors that could
cause actual events, results, performance and/or achievements to
vary materially from the forward-looking information.
It can not be guaranteed that actual events, results,
performance and/or achievements will be consistent with the
forward-looking information and management's assumptions may prove
to be incorrect. This forward-looking information reflects Rock
Tech management's current views as at the date of this press
release. Except as may be required by law, Rock Tech undertakes no
obligation and expressly disclaims any responsibility, obligation
or undertaking to update or to revise any forward-looking
information, whether as a result of new information, future events
or otherwise, to reflect any change in Rock Tech's expectations or
any change in events, conditions or circumstances on which any such
information is based.
The forward-looking information contained herein is presented
for the purposes of assisting readers in understanding Rock Tech's
plans, objectives and goals and is not appropriate for any other
purposes.
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SOURCE Rock Tech Lithium Inc.