'We can compete with brine producers'

摘要

Although still in the ranks of the developers, Canada Lithium Corp. is in the final stages of bringing its spodumene project near Val d'Or, Quebec, to fruition. On 13 February 2012 the company announced it would raise C$75m ($75m) through a debt facility to finance development.The five-year facility was arranged with The Bank of Nova Scotia and Caterpillar Financial Services, with the latter also providing up to $ 17m lease financing for mobile mining equipment.Canada Lithium started construction in August 2011 on a $207m open pit mine and processing plant in La Come Township, which it expects to commission in late 2012. It has concluded its bankable feasibility study (BFS), has construction permits in place and is 90% through its environmental documentation.The project will produce 3,000 tonnes in the first quarter of next year, building up to 5,000 tonnes per quarter by the end of 2013. At full capacity the company will be able to produce 20,000 tpa of battery grade lithium carbonate, with a purity of 99.95%.