Lithium Americas, Green Technology Metals ink strategic collaboration agreement
(Kitco News) - On Tuesday, Lithium Americas (TSX: LAC) (NYSE: LAC) announced that it has entered a strategic collaboration agreement with Green Technology Metals (ASX: GT1) to advance a common goal of developing an integrated lithium chemical supply chain in North America.
The company said that following Lithium Americas' strategic equity investment of US$10 million in April 2022 and entry into an initial non-binding collaboration framework agreement with GT1, this collaboration agreement provides non-exclusive rights for Lithium Americas and GT1 to undertake collaborative activities.
"This agreement represents a further step forward for both parties in their goal towards the joint development of midstream and downstream processing strategies and routes for battery-grade lithium chemicals in Ontario and across North America," Lithium Americas noted in its press-release.
The company pointed out that the collaboration agreement is intended to encourage increased communication and knowledge-sharing between Lithium Americas and GT1's management and technical teams.
Importantly, the company said that the collaboration agreement includes the establishment of a strategic management committee comprised of equal representatives from Lithium Americas and GT1, to discuss strategic opportunities for joint exploration or development and pursuit, establish a strategy development framework and facilitate and oversee a joint development plan.
"As we prepare to commence construction at Thacker Pass, we see an opportunity to further strengthen our role in developing a North American lithium supply chain," stated President and CEO Jonathan Evans. "On the back of the passing of the Inflation Reduction Act by U.S. Congress, we are having increased engagement with potential partners and customers focused on North America."
"Working with GT1 allows us to leverage our chemicals focused team based in the U.S. and GT1's extensive experience in hard rock exploration and development," he added.
Lithium Americas is focused on advancing lithium projects in Argentina and the United States to production. In Argentina, Caucharí-Olaroz is advancing towards first production and Pastos Grandes represents regional growth. In the United States, Thacker Pass has received its Record of Decision and is advancing towards construction.
GT1 is a North American focused lithium exploration and development business. GT1's Ontario lithium projects comprise high-grade, hard rock spodumene assets (Seymour, Root and Wisa) and lithium exploration claims (Allison and Solstice) located on Archean Greenstone tenure in north-west Ontario, Canada. GT1's strategy is to build a vertically integrated lithium business in Ontario.
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