Rock Tech Lithium has signed a binding long-term offtake agreement with commodity trading company Transamine SA for spodumene concentrate from its Georgia Lake project in Ontario. The agreement secures a commercial pathway for the mine’s planned production, preserves the option to convert material into battery-grade lithium chemicals and includes a framework for a development prepayment facility of up to US$80 million.
Rock Tech Lithium has entered into a binding offtake agreement with Geneva-based commodity trading house Transamine SA covering spodumene concentrate from its wholly owned Georgia Lake project in Ontario.
The agreement establishes a long-term commercial pathway for the project’s planned production, with deliveries expected to begin in 2028, subject to contractual provisions and any adjustments following completion of the definitive feasibility study.
The initial agreement runs for seven years, with the option to extend annually for up to five additional years by mutual agreement.
Under the agreement, Transamine will purchase 50,000 dry metric tonnes of spodumene concentrate during the first year of deliveries, increasing to 100,000 dry metric tonnes annually thereafter, subject to a 10 per cent tolerance in favour of Rock Tech and the agreement’s terms and conditions.
The production volumes and delivery timeline will be reviewed and may be adjusted following completion of the definitive feasibility study.
Pricing will be based on the Fastmarkets spodumene concentrate benchmark, adjusted for delivered grade, and includes a qualified floor price subject to specified resale market, inflation adjustment and project financing provisions.
The agreement has been structured to preserve Rock Tech’s integrated Ontario mine-to-converter strategy.
If the company requires spodumene concentrate for its planned Red Rock Lithium Converter, the agreement can be amended to supply battery-grade lithium hydroxide monohydrate and/or battery-grade lithium carbonate instead.
Any amendment would establish product specifications, pricing, delivery schedules and other commercial terms, while maintaining Transamine’s take-or-pay commitment for the revised products.
Rock Tech said the arrangement allows it to market spodumene concentrate while retaining the flexibility to supply battery-grade lithium chemicals to battery and cathode manufacturers as its conversion capacity is developed.
The agreement also provides a framework for a development prepayment facility of up to US$80 million to support the Georgia Lake project.
The proposed facility would carry interest at the three-month CME Term Secured Overnight Financing Rate (SOFR) plus 2.95 per cent per annum, with repayment through concentrate deliveries over a 24-month period beginning with first delivery.
The final amount and terms of the facility will be agreed following completion of the definitive feasibility study. Access to the financing remains subject to several conditions, including project equity financing, regulatory approvals, satisfactory technical and financial due diligence, and the resolution of permitting, environmental and community requirements.
“This agreement demonstrates how Rock Tech is turning critical minerals ambition into execution,” said Mirco Wojnarowicz, Chief Executive Officer of Rock Tech Lithium.
“It provides a long-term, commercial foundation for the Georgia Lake mine’s future production, strengthens our financing pathway, and – together with the prepayment facility – brings us another step closer to building the integrated mine-to-converter platform with the flexibility to convert raw material into battery-grade lithium chemicals through our Red Rock Lithium Converter.
Together with the prepayment facility, the agreement brings us another step closer to building an integrated mine-to-converter platform and supporting a stable, secure supply of battery-grade lithium for Canada and its allies.”
Rock Tech said the agreement supports its strategy to establish an integrated lithium supply chain in Ontario by linking mining with domestic lithium conversion.
The company plans to source raw materials for its converter projects from ESG-compliant suppliers, including its Georgia Lake project, while developing the operation in partnership with local Indigenous communities. It also intends to incorporate recycled materials into its supply chain as part of its circular economy strategy.
The agreement provides a commercial foundation for Georgia Lake’s planned production while preserving the flexibility to supply battery-grade lithium materials to support the growing North American battery manufacturing sector.
