Nemaska Lithium Signs an Off-Take and Collaboration Agreement With Phostech Lithium for Production of Lithium Hydroxide
Nemaska Lithium Inc. ("Nemaska" or the "Corporation") (TSX
VENTURE:NMX)(OTCQX:NMKEF) is pleased to announce that it has signed an off-take
and collaboration agreement ("Agreement") with Phostech Lithium Inc.
("Phostech"), a Clariant AG group company. (Swiss Exchange: CLN) Per the
Agreement, Phostech agrees to evaluate and purchase from Nemaska the output of
the lithium hydroxide monohydrate to be produced by Nemaska's Phase I plant.
Nemaska and Phostech also agree to collaborate in order to determinate the
economic and technical feasibility of tailoring the lithium hydroxide
fabrication process according to Phostech's specifications. Pending financing
and budgetary considerations, Nemaska Lithium intends to build a Phase I, 500
tonnes a year lithium hydroxide plant using its proprietary chemical
transformation process.
"This is our first agreement with an end user and we are delighted to be working
with Phostech, a division of Clariant, a large established multinational
organization that focuses on speciality chemicals including battery cathode
material manufacturing," commented Guy Bourassa, President and CEO of Nemaska
Lithium. "This agreement will accelerate our decision to build a Phase I lithium
hydroxide plant which will also be used as a marketing tool to discuss with
other potential customers."
"High-quality raw materials are a key element for cathode materials to be used
in long-lasting lithium ion batteries," commented Denis Geoffroy, General
Manager, Phostech Lithium. "We are eager to evaluate a new source of lithium
hydroxide and explore a long-term relationship with Nemaska Lithium."
Phostech recently opened its facility in Quebec that produces the Life Power(R)
P2 C-LiFePO4, a safe, high-power cathode material for rechargeable lithium-ion
batteries used in hybrid and electric vehicles, solar and wind energy storage
and power tools.
About Phostech
Phostech Lithium is a Clariant group company and integral part of Clariant
Battery Materials, the leading supplier of high quality C-LiFePO4 cathode
material. Clariant Battery Materials markets different Life Power(R) grades
manufactured in its plants in Canada and Germany. Clariant Battery Materials
controls and develops several synthesis processes to fulfill needs of present &
future customers and markets.
About Clariant
Clariant is an internationally active specialty chemical company, based in
Muttenz near Basel. The group owns over 100 companies worldwide and employed 22
149 employees on December 31, 2011. In the financial year 2011, Clariant
produced a turnover of CHF 7.4 billion. Clariant is divided into eleven business
units: Additives; Catalysis & Energy; Emulsions, Detergents & Intermediates;
Functional Materials; Industrial & Consumer Specialties; Leather Services;
Masterbatches; Oil & Mining Services; Paper Specialties; Pigments; Textile
Chemicals. Clariant focuses on creating value by investing in future profitable
and sustainable growth, which is based on four strategic pillars: Improving
profitability, innovation as well as research and development, dynamic growth in
emerging markets, and optimizing the portfolio through complementary
acquisitions or divestments.
About Nemaska
Nemaska Lithium is an exploration and development company with its Whabouchi and
Sirmac lithium deposits located in the James Bay Region in the Province of
Quebec. Both projects are easily accessible year round by the Route du Nord from
Chibougamau. The Whabouchi lithium deposit is located near the Cree community of
Nemaska and the Nemiscau airport. Nemaska plans to become a lithium
hydroxide/carbonate producer based in Quebec and has filed patent applications
for its proprietary method to produce lithium hydroxide and lithium carbonate.
The Corporation's lithium hydroxide/carbonate processing plant will be located
in Valleyfield, Quebec. Nemaska is also an important shareholder of Monarques
Resources Inc. (TSX VENTURE:MQR).
Forward-looking statements contained in this press release involve known and
unknown risks, uncertainties and other factors that may cause actual results,
performance and achievements of Nemaska to be materially different from any
future results, performance or achievements expressed or implied by the said
forward-looking statements.
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