Canadian Mining Journal

News

LITHIUM: Nemaska collects first $75M from Orion streaming pact



Nemaska’s processing plant in Shawinigan, Que., is advancing toward commercial production. (Image: Nemaska Lithium)

QUEBEC CITY, Que. – Nemaska Lithium says its subsidiary Nemaska Lithium Shawinigan Transformation has received the first payment of US$75 million from affiliates of Orion Mine Finance II LP. The is the first payment of the US$150-million streaming arrangement Nemaska has with Orion.

Nemaska’s plans are advancing quickly. Earlier this week they signed a five-year supply agreement with a Swedish battery maker, and announced that 95% of its planned output has been contracted. With contracts and cash in hand, the company will move its plant toward commercial production as soon as possible.

The Whabouchi open pit mine and mill are up and running. Read the 2018 feasibility study posted at www.NemaskaLithium.com.