Canadian company Rock Tech Lithium has selected the community of Red Rock as the site for Ontario’s first ever lithium refinery. Under an agreement with BMI Group, Rock Tech will take a long-term lease on approximately 20 hectares of the former Norampac paper mill site in Red Rock.
BMI to invest over four million US dollars
In addition to providing the land, BMI Group will invest more than four million US dollars in the project, which includes both an equity investment and a loan. Rock Tech’s Georgia Lake mining project is located approximately one hour north of the community. Key infrastructure facilities such as rail and power in the immediate vicinity also contributed to the site selection. Meanwhile, no details were provided on the planned capacity of the facility or the timeline of the project. The final terms of the lease and investment agreements are said to be subject to ongoing negotiations and are expected to be finalized in the coming weeks.
