Livent and The Pallinghurst Group have formed a joint venture to acquire assets from Nemaska Lithium, and will own 50% of the newly named project, New Nemaska. The remaining 50% will be held by Investissement Quebec.
Nemaska Lithium had stretched itself with capital expenditure overruns as it pursued its vertically integrated spodumene-hydroxide Whabouchi project in Quebec, which had a nameplate capacity of 37,000 tpa of lithium hydroxide. However, the company faced growing financial difficulties and filed for bankruptcy at the end of 2019, and the project ultimately changed ownership this year.
Livent was previously set to receive material . . .