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Avalon Signs MOU with Metso, a World Leader in Critical Minerals Technology, to Advance the Development of Ontario's First Lithium Processing Facility
Toronto, Ontario--(Newsfile Corp. - July 10, 2023) - Consistent with its strategy to become a lea...
About this update from Avalon Advanced Materials Inc.
[{"type":"text","content":"Avalon Signs MOU with Metso, a World Leader in Critical Minerals Technology, to Advance the Development of Ontario's First Lithium Processing FacilityToronto, Ontario--(Newsfile Corp. - July 10, 2023) - Consistent with its strategy to become a leading North American vertically integrated lithium producer, Avalon Advanced Materials Inc. (TSX: AVL) (OTCQB: AVLNF) (\"Avalon\" or the \"Company\") is pleased to announce it has signed a memorandum of understanding to create a strategic partnership with Metso Corporation (\"Metso\"), a global leader in clean, sustainable critical-mineral processing technology.  Zeeshan Syed, President of Avalon Advanced Materials Inc. (left), and Mikko Rantaharju, Vice-President of Hydrometallurgy at Metso Corp. (right) sign at Canada House, London, UK a memorandum of understanding to pursue the development of Ontario’s first lithium hydroxide processing facility. To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/3386/172801_73d637f0848948ee_0001.jpgThe agreement, signed at Canada House in London UK, will immediately see the parties seek to establish terms to develop a lithium hydroxide production facility to process lithium mineral concentrates that are essential for the North American electric vehicle (EV) battery value chain. Avalon intends to deploy Metso's world-leading technology to construct and operationalize a full-service lithium processing facility at the Company's recently acquired Thunder Bay, ON. industrial site. Upon completion of the project, Avalon will be the first vertically integrated lithium producer in Ontario, while ensuring Canada's EV battery manufacturing base has a stable, proximate and long-term supply of this strategically vital resource. \"Metso's platform and technological solutions perfectly complement Avalon's vision to complete an integrated lithium value chain in Ontario, predicated on innovative process solutions,\" said Zeeshan Syed, President of Avalon. \"We view Metso as an integral part of this rapidly growing sector, and a foundational partner in developing internationally best-in-class processing capabilities that are environmentally sustainable, allowing Avalon to meet the soaring demand for battery-grade lithium.\" The Non-Binding Memorandum of Understanding stipulates: The pursuit of a definitive...