Competition ? .......... or just strengthens Vul's case ?
"Rock Tech Lithium Inc. plans to raise $400m to build a Lithium refinery in Germany & has attracted support from Billionaires inc Peter Theil investing in Europe's push to create a local E.V battery industry" .
"The Canadian miner is in advanced talks with investors & see's the Brandenberg & Saxony-Anhalt regions as possible locations for the smelter" .
"Europe is expected to overtake China as the top E.V market this year , spawning investment into the necessary infrastructure & local supply chains to reduce a dependence on Asian battery makers" .
"The refinery which would be one the first of its kind in Europe , could begin operating in 2023" .
"Having a local smelter would allow Europe to avoid some of the complex logistics involved in shipping what is a highly corrosive substance that reacts violently with water" .
"Rock Tech plans to largely source the ore for the German factory from its own spodumene mine in Georgia lake , Ontario . It usually supplies cathode manufacturers such as BASF SE or UMICORE SA & plans to build converter sites for Lithium hydroxide in N.A & EUR to reduce the industry's dependence on China" .
Source .......... Bloomberg 11 / 1 / 21
Full story on Bloomberg , I've just put down the key points .
VUL megathread, page-1160
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