MONTREAL, June 01, 2021 (GLOBE NEWSWIRE) -- Nemaska Lithium Inc. (“Nemaska Lithium” or “Company”) announces that it has entered into an option agreement to purchase a 500,000m² plot of land in the Industrial park and port of Bécancour (“Bécancour”) to construct and operate its chemical conversion facility (“Conversion Facility”). The Conversion Facility will form part of an integrated project to market solution with Nemaska Lithium’s Whabouchi mine to produce battery grade lithium hydroxide.
The selection of the Bécancour site comes at the end of a rigorous analysis by Nemaska Lithium to identify the best location for the Conversion Facility. The conclusion from the analysis found that the construction and operation of the Conversion Plant in Bécancour offers the following advantages:
- provides direct access to a year-round deep-water port;
- allows plant design, construction and operation to be carried out without the constraints associated with pre-existing buildings;
- simplifies plant construction and provides options for future development; and
- avoids issues associated with the construction and operation of a chemical plant within an urban community.
Gervais Jacques, Chairman of the Board of Nemaska Lithium: "The selection of Bécancour for the construction and operation of its Conversion Facility is an important milestone for the new development path of Nemaska Lithium. This decision will also allow Nemaska Lithium to contribute to the development of the battery materials industry in Quebec in a world-class industrial park. Working together with our key stakeholders, we are building the sustainable economy of the future."
About Nemaska Lithium
Operating in the chemical industry, Nemaska Lithium is a developing company whose activities will be vertically integrated, from spodumene mining to the commercialisation of battery grade lithium hydroxide. These lithium salts are primarily intended for the rapidly growing lithium-ion battery market, which is powered by the growing demand for electric vehicles and energy storage globally. Through its products and processes, the Company intends to facilitate access to green energy.
Nemaska Lithium intends to develop the Whabouchi mine in Quebec, Canada, one of the richest spodumene deposits in the world in terms of volume and grade. The spodumene concentrate that will be produced at the mine will then be processed at the Conversion Facility.
Cautionary Statement on Forward-Looking Information
All statements, other than statements of historical fact, contained in this press release constitute “forward-looking information” and “forward-looking statements” within the meaning of certain securities laws and are based on expectations and projections as of the date of this press release.
Forward-looking statements contained in this press release include, without limitation, those related to (i) the completion of the construction at the Whabouchi mine and Conversion Facility in Bécancour, and (ii) generally, the above “About Nemaska Lithium” paragraph which essentially describes Nemaska Lithium’s outlook. Forward-looking statements are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect.
Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that the Whabouchi mine and/or the Conversion Facility will be commissioned and will begin production, as future events could differ materially than what is currently anticipated by the Company.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans relating to the future. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. The Company cautions that the foregoing list of factors that may affect future results is not exhaustive, and new, unforeseeable risks may arise from time to time. The Company disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.
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