http://www.nemaskalithium.com/en/investors/...4c5e-9427-cce43b605983/
QUEBEC CITY, Quebec, July 23, 2018 (GLOBE NEWSWIRE) -- Nemaska Lithium Inc. (Nemaska Lithium or the Corporation) (TSX:NMX) (OTC:NMKEF) is very pleased to provide a project construction update and development timeline for its Whabouchi Mine and Electrochemical Plant in Shawinigan. Moving forward, Nemaska Lithium intends to issue progress reports in conjunction with its quarterly and annual financial reporting. Guy Bourassa, President and CEO of Nemaska Lithium, commented, With the project financing structure completed on May 30th, our project construction and planning are on schedule at both locations and construction activities are increasing week by week. I am pleased that we are progressing according to plan and that we are on track to start producing spodumene concentrate in the second half of 2019 with lithium salts production commencing in the last half of 2020. Our conversations with end users suggest the market for battery grade lithium hydroxide and lithium carbonate remains very tight. Accordingly, we signed with LG Chem earlier this month our fourth supply agreement and we are currently negotiating the final terms of a fifth agreement with Northvolt and that puts us at more than 90% of our future lithium hydroxide and lithium carbonate production already committed. Our offtake contracts are multi-year agreements with several lasting for a period of up to 5 years. We are also actively marketing the Company to new and existing institutional shareholders with recent meetings in Asia, United States, London, Europe and Canada from which we have had much positive feedback. Further to the recent completion of a CAD1.1B project financing package, the Corporation has resumed work at the Whabouchi mine, has initiated the purchases of long lead items for both sites and is preparing the Shawinigan site for civil engineering work this summer. To assist in project execution, Nemaska Lithium has already retained the services of several outside engineering and consulting groups: - The Procurement and Construction Management (PCM) team of Nemaska Lithium is supported by Nardella Group who is responsible to maintain budget control and schedule;
- ABB is providing the electrical equipment and electrical engineering services for both sites;
- DRA Met-Chem is assisting with the mine and concentrator engineering design;
- SNC-Lavalin is retained for the design of the tailings and waste co-disposal site; and
- Hatch Engineering is providing engineering design assistance for the electrochemical plant.
Whabouchi Mine Construction The mine construction has resumed and has a 12 to 15 months schedule, with concentrate production expected to commence in the second half of 2019. Prior to the most recent project financing, about CAD80M had already been invested in the Whabouchi site construction and preparation. Since the completion of the CAD1.1B project financing package, the following has been initiated, is partially complete or completed: - Key positions including Mine Geologist, Maintenance Director, Human Resource Director, Metallurgist, Director of Operations for the Concentrator and Mining Engineer have been hired and are working on the readiness plan to ensure seamless hand off from the Construction Team to the Operations Team.
- Long lead items including ore sorting, floatation columns, ball mill and dry magnetic separator have been ordered. Engineering is also preparing requests for information for bids and completing technical bid evaluations on other equipment.
- Civil works have resumed at the mine site and on-site roads are being completed, administrative offices are installed and are fully operational with full-time staff working at the mine site location.
- Civil engineering work is underway for crushing and ore sorting buildings as well as the garage. In addition, civil works on the internal construction of the concentrator building including foundations and structural steel installation continues.
- The power line to the mine site from the Nemiscau sub-station has been installed. Installation of the transformer and electrical room is underway and hook up to the grid is pending Hydro-Québec availability, which is currently scheduled for August 2018.
- Nemaska Lithium is working closely with the Cree School Board and Cree Human Resources Development Corporation and training for mining jobs is currently ongoing, ensuring a large portion of the mine employees can come from the nearby Cree Community of Nemaska, supporting local communities.
Electrochemical Plant Construction The electrochemical plant has a 27 months construction schedule. Prior to the most recent project financing, close to CAD20M had already been invested for the Shawinigan site. To date, the following has been either initiated, partially completed or completed: - Civil works have commenced following the final demolition, by the former owner, of the obsolete buildings that were on the Nemaska Lithium property. With the demolition completed, civil engineering has started to prepare the building and site to receive equipment.
- Detailed engineering is ongoing with several long lead items including the calciner, acid baking system, electrolyser, and crystallizer suppliers identified. Bids are expected to be awarded shortly for these priority items.
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