https://www.miningweekly.com
Mining|PROJECT|supply-chain|Bearing|Operations
Mining|PROJECT|supply-chain|Bearing|Operations
mining|project|supply chain|bearing|operations

Frontier Lithium surges on JV with Mitsubishi for Canadian operations

5th March 2024

By: Reuters

  

Font size: - +

Frontier Lithium has formed a joint venture with Japanese trading house Mitsubishi to help advance lithium mining and processing in Ontario, sending the Canadian miner's shares up 15% on Monday.

The deal will help finance the PAK Lithium Project mine and a planned lithium chemicals conversion facility, Frontier said, as the company aims to become a major supplier of the key mineral used in EV batteries to the North American supply chain.

Frontier shares were trading at C$1.06 after briefly hitting a five-month high earlier in the session.

Mitsubishi will buy a 7.5% stake in the project for C$25-million with an option to increase it to 25%, as per the terms of the agreement signed last week.

"Mitsubishi has significant previous experience in resource JVs and this partnership should improve market confidence to FID (for PAK Project)," said Stifel Canada analyst Cole McGill.

The PAK Lithium project encompasses about 27 000 ha of land in Ontario, with two spodumene-bearing lithium deposits delineated since 2013. Spodumene concentrate is a type of lithium mineral ore.

Edited by Reuters

Comments

Showroom

Immersive Technologies
Immersive Technologies

Immersive Technologies is the world's largest, proven and tested supplier of simulator training solutions to the global resources industry.

VISIT SHOWROOM 
ESAB showroom image
ESAB South Africa

ESAB South Arica, the leading supplier of high-end welding and cutting products to the Southern African industrial market is based in...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Resources Watch
Resources Watch
22nd May 2024
Menar MD Vuslat Bayoğlu
Menar advancing on the manganese front
21st May 2024 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.289 0.325s - 109pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: