09:23:14 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



Rock Tech Lithium Inc (2)
Symbol RCK
Shares Issued 101,255,039
Close 2024-04-29 C$ 1.25
Market Cap C$ 126,568,799
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Rock Tech, C&D enter feedstock supply deal

2024-04-30 01:45 ET - News Release

Mr. Mirco Wojnarowicz reports

ROCK TECH LITHIUM ANNOUNCES FEEDSTOCK SUPPLY AGREEMENT WITH C&D LOGISTICS (QINGDAO) CO., LTD., A SUPPLY CHAIN ENTERPRISE UNDER THE C&D GROUP, A FORTUNE GLOBAL 500 MEMBER

Rock Tech Lithium Inc. has executed a definitive feedstock supply agreement between Rock Tech's subsidiary RTT Lithium SA and C&D Logistics (Qingdao) Co. Ltd., a supply chain enterprise of C&D Group, which is ranked 69th on the Fortune Global 500 list.

Under the feedstock supply agreement, which was signed on April 23, 2024, C&D Logistics will supply up to the full amount of spodumene concentrate required for the operation of Rock Tech's lithium refinery in Germany, the Guben converter. The deliveries under the agreement will commence in 2025 and have an initial term of five years. The agreement includes a pricing concept based on a lithium hydroxide monohydrate market price index. Exact quantities and prices will be confirmed annually.

C&D Logistics is a major partner of the Australian and Chinese lithium industry. The company has a long history of close co-operation with existing lithium converters and operating lithium mines. C&D Logistics specializes in sourcing and supply chain services. RTT Lithium is a joint venture between Rock Tech and Transamine SA established in 2023 to facilitate the sourcing and trading of spodumene concentrate for Rock Tech's converter projects.

Mirco Wojnarowicz, Rock Tech's vice-president of business development and director with RTT Lithium, commented: "This is a decisive moment for Rock Tech and the European lithium industry. We are honoured to have won one of the largest global companies as our strategic partner. With many years of lithium trading experience and long-standing business relationships with existing spodumene producers in Australia, Africa and Brazil, C&D will help Rock Tech to significantly advance our Guben project."

About Rock Tech Lithium Inc.

Rock Tech is a cleantech company with operations in Canada and Germany on a mission to produce lithium hydroxide for electric vehicle batteries. The company plans to build lithium converters at the doorstep of its customers to guarantee supply chain transparency and just-in-time delivery, beginning with the company's proposed lithium hydroxide merchant converter and refinery facility in Guben, Germany. The second lithium converter is planned to be built in Red Rock, Ont., Canada. Rock Tech plans to source raw material from its wholly owned Georgia Lake spodumene project located in the Thunder Bay mining district of Ontario, 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. 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 environmental, social and governance standards, and is developing a proprietary refining process aimed at further increasing efficiency and sustainability. Rock Tech's goal is to create a closed-loop lithium production system.

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