Allkem's James Bay project gets COMEX approval
Make us a preferred source
Make us a preferred source on Google
The news: Allkem's James Bay lithium project has passed a final hurdle after getting approval from environmental authorities to build the project in Quebec, Canada.
The numbers: James Bay is expected to produce 311kt of spodumene concentrate each year over a 13-year mine life. Engineering and procurement processes are 84% and 90% complete, Allkem said, and are expected to be ready before construction begins.
Allkem, now delisted from the ASX, is in the process of merging with US lithium giant Livent to form Arcadium Lithium. Arcadium shares were up 1.6% by 3pm AEDT on Thursday after surging 5.9% the day before.
The context: The announcement came less than two weeks after Allkem signed a First Nations' agreement with the Cree people for James Bay. The Arcadium merger is set for full completion on 4 January 2024.
The source: ASX Announcement
