VANCOUVER (miningweekly.com) – The Ontario provincial government has announced a C$500 000 investment that will assist TSX-listed explorer Avalon Advanced Materials to develop an innovative new process to make lithium-ion batteries from petalite mineral deposits in the Kenora area.
The government said in a statement on Monday that the financial assistance, through the Northern Ontario Heritage Fund Corporation (NOHFC), will allow the local mining company to test and demonstrate converting lithium mineral petalite into lithium hydroxide, a key component in the manufacturing of lithium-ion batteries, which provide a rechargeable, sustainable and low-pollution source of energy storage.
“Our government recognises that supporting mining innovation is vital to the growth of our Northern economy. Today’s investment in Avalon’s project demonstrates our government’s continued commitment to creating good jobs and supporting business growth, economic development and diversification in the North,” Minister of Northern Development and Mines Bill Mauro stated.
The government hopes the new production process will enable Avalon to further diversify the economy of the region, continue to grow its business and create and maintain 14 new local jobs.
According to government information, the NOHFC has invested more than C$488-million in 3 165 projects helping to create or sustain more than 10 895 jobs across Northern Ontario since 2013.