Rock Tech Lithium has signed a binding offtake agreement with Geneva-based commodity trader Transamine covering the full planned spodumene concentrate production from its Georgia Lake lithium project in Ontario, Canada.
The long-term agreement also includes an up to $80 million prepayment financing facility designed to support development of the mining project while strengthening Rock Tech’s integrated battery materials strategy.
Long-Term Supply Agreement
Under the agreement, Rock Tech will supply Transamine with up to 100,000 dry metric tonnes of spodumene concentrate annually beginning in 2028 over an initial seven-year period.
Deliveries will gradually ramp up, with approximately 50,000 tonnes planned during the initial phase before increasing to the full annual production target of 100,000 tonnes during normal operations.
Pricing will be linked to internationally recognized market benchmarks for spodumene concentrate, and the companies have included an option to extend the contract by as much as five additional years.
Spodumene concentrate serves as a key raw material for producing battery-grade lithium chemicals such as lithium hydroxide and lithium carbonate used in electric vehicle batteries.
Flexibility for Downstream Processing
The agreement allows Rock Tech to retain the option of refining the spodumene concentrate into battery-grade lithium chemicals at its planned Red Rock Lithium Converter in Ontario.
If that facility enters production, the contract can be converted into a take-or-pay agreement covering lithium hydroxide or lithium carbonate supplied to Transamine instead of raw concentrate.
The arrangement supports Rock Tech’s strategy of developing an integrated mine-to-converter battery materials business.
Chief Executive Officer Mirco Wojnarowicz described the agreement as an important commercial milestone.
“This agreement demonstrates how Rock Tech is turning critical minerals ambition into execution.”
He added that the partnership provides long-term commercial certainty while strengthening financing for the project.
“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.”
Financing Supports Project Development
As part of the agreement, Transamine will provide a prepayment facility of up to $80 million.
Access to the funding remains subject to several conditions, including Rock Tech securing full equity financing for the project and obtaining all required environmental and operational approvals.
The advance payment will be repaid over 24 months beginning with the first commercial shipments through deductions from concentrate deliveries. Any outstanding balance after that period will be settled in cash.
Canadian and German Battery Materials Strategy
In addition to its Canadian mining operations, Rock Tech continues to pursue downstream lithium processing projects in Germany.
The company plans to build a lithium converter in Guben, Brandenburg, though the project faces significant financing challenges due to an estimated investment requirement of approximately €750 million.
While production was originally targeted for 2027, commercial operations are now expected to begin no earlier than 2029. Once operational, the Guben facility is expected to produce enough battery-grade lithium chemicals to support approximately 30 GWh of battery production annually, sufficient for around 500,000 electric vehicles per year.