LITHIUM: Nemaska signs offtake agreement with Swedish battery maker

QUEBEC – Nemaska Lithium of Quebec City has signed an agreement in principle to supply Swedish battery maker Northvolt AB battery grade lithium hydroxide. Northvolt will take between 3,500 and 5,000 tonnes per year (on a take-or-pay basis) of the material produced at Nemaska’s hydrometallurgical plant in Shawinigan. [caption id="attachment_1003723000" align="alignleft" width="241"] Nemaska’s lithium hydroxide plant in Shawinigan, Que. (Image: Nemaska Lithium)[/caption] The agreement will run for an initial five year period beginning with commercial production at the Nemaska’s Shawinigan plant and Northvolt’s projected Skelleftea factory. Northvolt will to provide a €10-million (C$15.5 million) promissory note to Nemaska, who at its option can convert it into voting shares of Northvolt or redeem it at cost plus agreed interest rate. Spodumene concentrates from the Nemaska’s Whabouchi mine and mill in the Eeyou Istchee James Bay region supply feed for the company’s Shawinigan plant. The first concentrate was made in March 2017. More about Nemaska Lithium’s success is available at www.NemaskaLithium.com.