Metso has entered into a strategic partnership with Canadian mineral development company, Avalon Advanced Materials, to establish terms to develop a lithium hydroxide production facility. The facility will process lithium mineral concentrates that are essential for the North American electric vehicle (EV) value chain development.
According to the non-binding Memorandum of Understanding (MOU), Metso and Avalon seek to agree on a definitive agreement to establish a lithium hydroxide processing facility. The contract would allow Avalon to license Metso’s technology and solutions to produce lithium hydroxide cathode materials to serve the EV market, and Metso to conduct testing and engineering work at Avalon’s portfolio of critical-mineral projects. The parties aim to sign a definitive agreement during the third quarter of 2023.
Avalon Advanced Materials Inc. is a Canadian mineral development company aimed at vertically integrating North America’s lithium supply chain. The company is currently focusing on developing its Separation Rapids Lithium Project near Kenora, Ontario while continuing to advance other projects in its portfolio, including its 100 per cent owned Lilypad Spodumene-Cesium-Tantalum Project located near Fort Hope, Ontario. Avalon is listed on the TSX.