Rock Tech and Arcore Join Hands For European Lithium Supply By CIOTechOutlook Team

Rock Tech and Arcore Join Hands For European Lithium Supply

CIOTechOutlook Team | Monday, 13 November 2023, 11:56 IST

Rock Tech Lithium Inc and Arcore are pleased to announce a strategic partnership to secure a reliable and long-term supply of lithium products for Rock Tech's European converter operations. The parties intend to regionally source sustainable European lithium from Arcore's wholly-owned Lopare mining project in Bosnia and Herzegovina to feed Rock Tech's conversion facility.

Rock Tech and Arcore, a privately-owned Swiss-based lithium mining company, have agreed to explore a strategic partnership with the aim to secure long-term supply of lithium chemicals to Rock Tech's European converter. This partnership is intended to enable Rock Tech to access Arcores considerable lithium resources at its Lopare Project in Bosnia and Herzegovina, as per Rock Tech.

This forthcoming collaboration is an unambiguous proof of the development of a regional and domestic value chain for EV batteries within Europe, to which both companies are contributing through lithium supply and conversion. As next steps the Parties intend to define product specifications, negotiate an offtake agreement including quantities and prices.

"Arcore's project is an important element of our regional supply strategy. Linking with Arcore also demonstrates how important our converter in Europe is for making lithium consumable for European cathode and battery manufacturers. I'm looking forward to taking and implementing the next steps, which will undoubtedly meet the industry's needs," said Rock Tech's CEO Dirk Harbecke.

Ali Vezvaei, Chairman of the Supervisory Board of Arcore, said, "Arcore is delighted to partner with Rock Tech, and we look forward to a successful and synergetic relationship, not only commercially for the parties, but also strategically for the European continent as a whole. Our supply of lithium will contribute to Rock Tech's cutting-edge converter operations."