Green Technology Metals on the fast track to become Ontario’s first lithium miner and refiner
Green Technology Metals said the former Cascades paper plant is its leading property to place a lithium hydroxide conversion facility, potentially the second such facility slated for the city.
A lithium hydroxide conversion facility is a refinery that takes lithium concentrate, processed at the mine site, and converts it into a battery-grade material that the electric vehicle manufacturers are after. Headquartered in Perth, the company has two main lithium deposits in northwestern Ontario that it’s eager to bring into production within this decade.
Investors and stakeholders will have a better picture of what the mine and processing plant could like when Green Tech posts a preliminary economic assessment very shortly. A more in-depth feasibility study of what a vertically integrated mine and processing operation will look like is due out in the fourth quarter of 2024.
The South Korean battery-maker is looking to snag 25 per cent of the lithium spodumene concentrate production over a five-year period from the Seymour Project, a 9.9 million-tonne deposit. Aside from their private partners, the company said it’s looking to Canadian and foreign government funding agencies to come to the table to finance the concentrators at Seymour and Root and help with the Thunder Bay plant.
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