Rock Tech Lithium Signs Spodumene Offtake Agreement and Secures Funding

Rock Tech Lithium Inc. has secured a binding long-term offtake agreement with Geneva-based commodity trader Transamine SA for spodumene concentrate from its Georgia Lake project in Ontario. The agreement, effective from 2028, covers the full planned production and includes a development prepayment facility of up to US$80 million.

The seven-year agreement, with an option for an additional five years, commits Transamine to purchasing a minimum of 100,000 dry metric tonnes of spodumene concentrate annually starting in 2028. The prepayment facility, subject to final documentation after a definitive feasibility study, will carry interest based on SOFR and be repaid through concentrate deliveries.

The arrangement allows Rock Tech to maintain flexibility to process the lithium concentrate into battery-grade chemicals at its planned Red Rock Lithium Converter. If the company opts for domestic processing, the agreement can be amended to cover battery-grade lithium hydroxide or carbonate, with Transamine's purchase commitment continuing.

Rock Tech CEO Mirco Wojnarowicz stated the agreement is a significant step in executing the company's integrated mine-to-converter strategy in Ontario, bolstering financing and securing a long-term commercial pathway for the Georgia Lake mine's output.