The agreement covers the entire planned production of the Georgia Lake project in Ontario. From 2028, Rock Tech Lithium will supply Transamine with up to 100,000 dry metric tonnes of spodumene concentrate annually over an initial seven-year term. This concentrate is a powder produced from spodumene ore mined on-site, which contains a high proportion of lithium oxide (typically around 6 per cent). Battery-grade lithium for electric vehicles can be extracted from it in further processing steps.
The agreement includes a variable delivery volume. In the initial months of the contract, 50,000 tonnes are planned, before the volume increases to the annual maximum of 100,000 tonnes during regular operations. Pricing is based on internationally recognised market benchmarks for spodumene concentrate. The parties have also agreed on an option to extend the contract by up to five additional years.
A key element of the contract is the option for further processing. Rock Tech reserves the right to refine the spodumene concentrate into battery-grade chemicals at its planned lithium converter in Red Rock (near the Canadian mine). In such a case, the agreement would convert into a take-or-pay contract for lithium hydroxide or lithium carbonate with Transamine.
