Metso and Avalon sign MoU for potential partnership to advance the building of first battery-grade lithium facility in Canada
Metso and Avalon sign MoU for potential partnership to advance the building of first battery-grade lithium facility in Canada (Credits: Avalon Advanced Materials)
Metso has entered into a strategic partnership with Canadian mineral development company, Avalon Advanced Materials, to establish terms to develop a lithium hydroxide production facility. The facility will process lithium mineral concentrates that are essential for the North American electric vehicle (EV) value chain development.
According to the non-binding Memorandum of Understanding (MOU), Metso and Avalon seek to agree on a definitive agreement to establish a lithium hydroxide processing facility. The contract would allow Avalon to license Metso’s technology and solutions to produce lithium hydroxide cathode materials to serve the EV market, and Metso to conduct testing and engineering work at Avalon’s portfolio of critical-mineral projects.
"Metso's platform and technology perfectly complement Avalon's vision to complete an integrated lithium value chain in Ontario, predicated on innovative process solutions," says Zeeshan Syed, President of Avalon. "We view Metso as an integral part of this rapidly growing sector, and a foundational partner for developing best-in-class processing capabilities that are environmentally sustainable. This will allow Avalon to scale to meet the soaring demand for battery-grade lithium for the next decade and beyond."
“Metso is looking forward to partnering with Avalon and to be part of its long-term vision to be a mid-stream supplier in the lithium hydroxide space. We are aligned with Avalon’s vision of the future and proud to play a key role in technology supply and advancement into clean energy solutions and economy,” says Mikko Rantaharju, Vice President, Hydrometallurgy at Metso. “We are also extremely excited to be working together on the first Canadian conversion facility with Metso’s technology. The innovative alkaline process allows for elimination of potentially harmful chemicals such as sulfuric acid, and comparatively reduces overall solid waste and emissions, making it environmentally friendlier and safer overall for workers and local surrounding communities.”
The parties aim to sign a definitive agreement during the third quarter of 2023.
About Avalon Advanced Materials Inc.
Avalon Advanced Materials Inc. is a Canadian mineral development company aimed at vertically integrating North America’s lithium supply chain. The company is currently focusing on developing its Separation Rapids Lithium Project near Kenora, Ontario while continuing to advance other projects in its portfolio, including its 100%-owned Lilypad Spodumene-Cesium-Tantalum Project located near Fort Hope, Ontario. Social responsibility and environmental stewardship are corporate cornerstones. Avalon is listed on the TSX.
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