Nemaska Lithium (“Nemaska”), a developing lithium chemical company based in Québec, Canada, is expected to become one of the largest producers of lithium hydroxide worldwide.
The Whabouchi mine located in the James Bay region of Canada is one of the world’s richest spodumene deposits with an initial mine life of over 30 years. The spodumene concentrate produced at the Whabouchi mine will be processed at Nemaska’s Shawinigan plant using a unique membrane electrolysis process.
Pallinghurst has signed a letter of intent (“LOI”) which could see the group invest up to CAD600 million in the project, subject to due diligence. The investment would ensure the project is fully financed and facilitate the creation of a world class, low-cost lithium hydroxide producer. The LOI was accepted by the Nemaska Board of Directors following the unanimous recommendation from a special committee of independent directors, and welcomed by government investor, Investissement Québec, as a fantastic opportunity for the region.
“The Corporation’s sustainable approach to the mining of its world-class deposit combined with the use of innovative value-adding technology sets Nemaska Lithium apart. In our view, Nemaska Lithium’s lithium salt will rapidly become one of the most sought-after battery materials globally.” said Arne H. Frandsen, Co-founder and Managing Partner of Pallinghurst.