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(Kitco News) - On Monday, Avalon Advanced Materials (TSX: AVL) (OTCQB: AVLNF) announced it has signed a memorandum of understanding to create a strategic partnership with Metso, a global leader in clean, sustainable critical-mineral processing technology.
In a statement, the company said that the agreement, signed at Canada House in London UK, will immediately see the parties seek to establish terms to develop a lithium hydroxide production facility to process lithium mineral concentrates that are essential for the North American electric vehicle (EV) battery value chain.
Avalon noted it intends to deploy Metso’s world-leading technology to construct and operationalize a full-service lithium processing facility at the company’s recently acquired Thunder Bay, ON. industrial site.
“Upon completion of the project, Avalon will be the first vertically integrated lithium producer in Ontario, while ensuring Canada’s EV battery manufacturing base has a stable, proximate and long-term supply of this strategically vital resource,” the company said.
Avalon Advanced Materials is a Canadian mineral development company focused on vertically integrating the Ontario lithium value chain. The company is currently developing its Separation Rapids lithium deposit near Kenora, ON. while continuing to advance other projects in its portfolio, including its 100%-owned Lilypad spodumene-cesium-tantalum project located near Fort Hope, ON.
In additional to extraction activities, Avalon is executing on its key strategic objective of developing Ontario’s first midstream lithium hydroxide processing facility.
Metso is a leader in providing sustainable technologies, end-to-end solutions and services for the aggregates, minerals processing and metals refining industries globally.
For battery minerals, Metso provides sustainable technology and equipment for the entire production chain, from the mine to battery materials and black mass recycling with project scopes ranging from equipment packages to plant deliveries.
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