Avalon Advanced Materials and SCR-Sibelco NV have recently announced the closure of a joint venture deal to establish Separation Rapids, a new project aimed at developing a lithium mine in Ontario. The initiative will focus on commercializing the mineral assets at the Separation Rapids deposit near Kenora, Ontario, as well as the Lilypad Project situated near Fort Hope, Ontario.
Under this partnership, SCR-Sibelco NV will hold a significant 60% stake in the joint venture, with Avalon Advanced Materials retaining the remaining 40% ownership. Both companies are committed to advancing the production of petalite-lithium at Separation Rapids to meet the rising demands of the global glass and ceramics sectors as well as the North American electric vehicle (EV) battery market.
Furthermore, the Lilypad Project encompasses claims that feature lithium, tantalum and caesium mineralized pegmatites. The presence of caesium is particularly noteworthy as it is considered a rare economic resource. Lilypad represents one of the few significant occurrences of this mineral worldwide.
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