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Arbor Metals Welcomes the News that Volkswagen is Considering Ontario for a Battery Cell Facility
(TheNewswire) Vancouver, Canada – TheNewswire - February 13 th , 202...
About this update from Arbor Metals Corp.
[{"type":"text","content":"Arbor Metals Welcomes the News that Volkswagen is Considering Ontario for a Battery Cell Facility\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, Canada\n–\n \n \n TheNewswire -\n \n \n February 13\n \n \n th\n \n \n , 2023\n–\n \n \n Arbor Metals Corp. (\n \n \n “Arbor”\n \n \n or the\n“\n \n \n Company\n \n \n ”) (TSXV:ABR\n \n \n )\n \n \n ,\n \n \n (\n \n \n FWB:432) welcomes the\nrecent announcement by Germany’s Handelsblatt (“Handelsblatt”)\nbusiness daily that automobile manufacturer Volkswagen is considering\nsetting up a battery cell factory in Ontario.\n \n \n \n \n This follows Volkswagen’s battery subsidiary\nPowerCo’s decision last year to sign a deal with Umicore as a\nsupplier, with Umicore building a cathode factory outside of Kingston\nto supply Volkswagen’s future battery cell plant. Both these events\nrepresent the need for carmakers to meet the emerging EV demand with\nlocal sources of lithium from Ontario and Quebec spodumene deposits\npoised to supply Canadian-sourced lithium products to these new\nbattery plants. The Company’s Jarnet lithium properties located\ncontiguous to Patriot Battery Metals Inc. (PMET) Corvette-FCI property\nis well positioned to participate in the hunt for new lithium\ndeposits.\n \n \n \n \n “The U.S.A.‘s northern neighbor (“Canada”) is\none of the few countries in the western world that has important\nbattery raw materials such as lithium, nickel or cobalt. In addition,\nthe country is pursuing a consistent sustainability strategy and\nintends to switch completely to renewable energy in the coming years.\nCanada is already the third largest producer of hydroelectric power\nafter Brazil and China,” the Handelsblatt report said.\n \n \n \n \n PMET recently announced a significant discovery of\n156.9 meters of 2.12 per cent Li2O (lithium oxide), including 25 m of\n5.04 per cent Li2O (see PMET news release, Jan. 19, 2023) from the\nCV-5 pegmatite zone on the Corvette-FCI property. The Company’s\nJarnet properties cover multiple pegmatite dikes which the Company's\ngeological team have identified as similar to the pegmatite dikes on\nthe CV-5 target. The Jarnet property now comprises four claim blocks\...