Avalon Advanced Materials Inc announced that it has signed a memorandum of understanding (MOU) with Finnish critical-mineral processing technology company Metso Corporation to develop Ontario’s first lithium hydroxide production facility to process mineral concentrates that are used in electric vehicle (EV) batteries.
Avalon said it intends to license Metso's technology to construct and operationalize a full-service lithium processing facility at Avalon's recently acquired Thunder Bay, Ontario industrial site.
“Metso's platform and technological solutions perfectly complement Avalon's vision to complete an integrated lithium value chain in Ontario, predicated on innovative process solutions,” Avalon Advanced Materials president Zeeshan Syed said in statement.
“We view Metso as an integral part of this rapidly growing sector, and a foundational partner in developing internationally best-in-class processing capabilities that are environmentally sustainable,” Syed added.
Avalon also noted the MOU will allow Metso to conduct testing and engineering work across Avalon's portfolio of critical-mineral projects, including its flagship deposit at Separation Rapids near Kenora, Ontario.
The company added that the parties anticipate reaching a definitive agreement on or before September 1, 2023.
Contact Sean at sean@proactiveinvestors.com