- First partial license obtained for Rock Tech's lithium
conversion plant in Guben, Germany;
- Groundbreaking is planned for 27
March 2023;
- Regional construction partner awarded first onsite
works.
GUBEN, GERMANY, March 8,
2023 /CNW/ - Rock Tech Lithium Inc. (TSXV:
RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) (the "Company" or
"Rock Tech") has obtained the first partial license ("TG1") in
accordance with the Federal Immission Control Act (BImSchG) for its
lithium hydroxide conversion plant in Guben, Germany (the "Guben Converter"). The official
groundbreaking is planned for Monday, March
27th, 2023.
The Licensing Authority South of the Brandenburg State Office
for the Environment issued the first partial permit to Rock Tech's
lithium conversion plant submitted in February 2022. The permit follows the project's
Early Start Permissions received in December
2022 and January 2023. It
secures first works onsite, which were recently awarded to a
regional construction company.
The permit received allows complete construction for all
non-process buildings and site infrastructure and approves the
general plant layout and functions for the spodumene to lithium
hydroxide conversion.
"It is a great day, and a remarkable milestone has been reached.
We have already achieved an essential progress in securing critical
planning and pre-agreements for long lead items, and the basic
engineering is done. The Bankable Project study completed last
year, and Front End Loading Study Level 3 is in its final stage and
should be completed soon. We are strongly convinced that this first
partial license supports and accelerates further progress in the
realization of this first of its kind project in Europe," said Rock Tech's Chief Operating
Officer Klaus Schmitz.
Rock Tech has already submitted all required permits. The
Company submitted the second tranche ("Application for the
2nd Partial License for the Construction of the
Production Plant and Commissioning of the Entire Plant") in
November 2022 and is in close contact
with the local authorities and involved third party experts in
order to get this permit approval secured in due time.
Rock Tech's lithium converter is estimated to cost USD 683 million1 and is a strategic
investment to meet Europe's
growing demand for resilient supply of critical battery raw
materials. It will allow the Company to process spodumene from any
global source into battery-grade lithium hydroxide. Therefore, the
conversion plant will be an important contributor to in a European
battery value chain.
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
USD 683 million 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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1 as
disclosed and explained on 04 Nov 2022 within the release "Rock
Tech Lithium completes Bankable Project Study for its Guben
Converter Project"
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SOURCE Rock Tech Lithium Inc.