Nemaska Lithium is pleased to announce that its shareholder Livent, a company recognized worldwide for its expertise in lithium production, has decided to double its stake in the company. Indeed, Livent has announced the acquisition of The Pallinghurst Group’s share in Québec Lithium Partners, owned equally by Livent and The Pallinghurst Group and holding 50% of Nemaska Lithium’s shares. Investissement Québec remains the owner of the remaining 50% interest in Nemaska Lithium.
This acquisition by Livent demonstrates the project’s robustness and its potential in the battery value chain. It also attests to the excellent work done by the Nemaska Lithium team since its relaunch in December 2020. Over the past eighteen months, Nemaska Lithium has progressed significantly to the advanced engineering stage, in addition to beginning its consultation process in the communities and opening an office in Bécancour, near its future high-purity lithium hydroxide conversion plant. This is an integrated project that also includes extraction at the Whabouchi Mine.
Nemaska’s progress towards its current advanced engineering stage would not have been possible without significant contributions from The Pallinghurst Group. As a major investor in Livent, the Nemaska Lithium team looks forward to continuing its work with the group in the project’s development.
Continuity
Nemaska Lithium’s activities continue as planned and the current team will remain in place. The timeline also remains the same. It should be noted that construction of the lithium hydroxide processing plant is scheduled to begin in 2023 for commissioning in 2025. This will be the first lithium hydroxide processing plant in Canada.