Green Technology Metals Limited (GT1) is pleased to announce that it has executed a non-binding strategic collaboration agreement (SCA) with Lithium Americas Corp. (LAC).
Through the SCA, the company aims to leverage the considerable expertise of both parties towards the joint development of a strategically located, integrated lithium chemicals business in North America and to accelerate ongoing development of GT1’s Ontario Lithium projects.
Commenting on the execution of the SCA with LAC, GT1 Non-Executive Director, Cameron Henry, said:
“GT1 understands the value of people and expertise – it was a cornerstone on which the business was founded. As such, we are very pleased to have taken this further step with LAC. When we welcomed LAC on to our register, via a US$10 million strategic placement in April, we were of the strong view that our businesses held highly complementary skillsets. GT1, and its key project partners, possess extensive lithium exploration, mining, and upstream and downstream processing expertise. The LAC team holds deep downstream lithium chemical conversion capability and understanding, as ably demonstrated at their Lithium Technical Development Centre in Reno, Nevada – which we had the privilege of visiting a few months ago.
“The collaboration between the groups has already commenced alongside Primero Group, making the combination of hard rock lithium development and processing one of world-renowned experience that will continue the growth of both businesses. Both GT1 and LAC have the shared objective of building the pre-eminent vertically integrated lithium business in North America. With the recent passing of the Inflation Reduction Act by US Congress, and the substantial domestic battery minerals sourcing requirements this imposes on car manufacturers seeking to attract consumer tax credits for their Green Technology Metals vehicles, the value of this end goal has increased further again. We look forward to working more closely with LAC over the coming months and years in pursuit of our shared aims in North America.”