14:17:25 EDT Mon 29 Apr 2024
Enter Symbol
or Name
USA
CA



Allkem Ltd
Symbol AKE
Shares Issued 637,525,586
Close 2023-05-23 C$ 13.37
Market Cap C$ 8,523,717,085
Recent Sedar Documents

Globe says Allkem, rival see Ford strike Nemaska deal

2023-05-24 07:12 ET - In the News

Also In the News (C-LAC) Lithium Americas Corp (3)

The Globe and Mail reports in its Wednesday edition that Ford Motor has signed an 11-year contract with Nemaska Lithium for future production from two planned facilities in the province. The Globe's Andrew Willis writes that Ford announced long-term supply agreements with Nemaska and four other lithium miners Monday, part of a strategy to dramatically increase electric-vehicle production over the next three years. Nemaska expects to begin shipping lithium ore from the Whabouchi mine in the James Bay region of Northern Quebec by 2025, after spending $800-million (Canadian) on the project. The following year, it plans to start producing processed lithium at its Becancour plant, on the St. Lawrence River. Ford will initially buy ore from Whabouchi, then as much as 13,000 tonnes of processed lithium annually from the Becancour facility. Last year, General Motors signed lithium supply agreements with Nemaska Lithium parent Livent and Lithium Americas, which is developing a project in Nevada. Early this month, Livent announced a $10.6-billion (U.S.) merger with Brisbane, Australia's Allkem that would unite the owners of lithium mines in Canada, Argentina and Australia and a global network of processing plants.

© 2024 Canjex Publishing Ltd. All rights reserved.