Victor Cantore from the investor relations team at Nemaska Lithium was on hand at Mines and Money London to take us through what Nemaska is up to, and why they are different to other lithium mining companies.
Nemaska is focused on the Whabouci Property about 300km from Chibougamau. It is comprised of a single block of 33 claims covering 1761.9 Ha. This means Nemaska have the second most important spodumene lithium hard rock deposit in the world, with very high grade or, high purity hydroxide and low cost production.
From the get-go, Nemaska took their sustainability and community relations responsibilities very seriously. Looking to provide a key element in the ongoing green energy revolution, Victor points out in the interview that it seems somewhat ironic to mine and process lithium using coal generated energy, which is why Nemaska will be using hydro power at both their mine and associated chemical plant.
Nemaska’s challenge therefore is to attempt to cause as little impact on the environment as possible at every stage of the lithium production chain, whilst also being a low-cost producer. Is it possible to combine those two elements, which have traditionally been seen as distinct?
With production slated to commence in 2019, the price element remains to be seen. But the ‘green credentials’ of Nemaska are impressive.
Some of the steps they’re taking include:
- Dry stacking their tailings
- Water recycling to cause minimal impact to the lakes in the area.
- Building their own ponds to collect rainwater and snow melt.
- Power from a local hydroelectricity plant
- The chemical plant, currently under construction, will also be powered by hydro, and they plan to recycle at least 90% of the sulphuric acid used in processing.
Nemaska are fully financed for 2019 using a combination of methods including a bond, a streaming and equity. Production should commence in October 2019 to sell concentrate, with the chemical plant going live in 2020.
About Nemaska Lithium
Nemaska Lithium (NMX.T) intends to become a lithium hydroxide supplier and lithium carbonate supplier to the emerging lithium battery market that is largely driven by electric vehicles, cell phones, tablets and other consumer products. The Corporation is developing in Quebec one of the most important spodumene lithium hard rock deposit in the world, both in volume and grade.
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