Canada Lithium Appoints Quebec-based GENIVAR Inc. to
Manage EPCM Engineering Contract for US$202-million Quebec Lithium Project
- Canada Lithium Corp. announced
today that it has awarded the contract for Engineering, Procurement,
Construction and Management (EPCM) of its planned open-pit mine and processing
plant to Quebec-based GENIVAR Inc. In addition, GENIVAR will be supported by
Met-Chem Canada Inc., also based in Montreal, Quebec,
for part of the process design and engineering stages.
"GENIVAR and Met-Chem are world-class engineering groups with the advantage
of having deep roots and considerable experience in the development of Quebec's
mining sector," said Canada Lithium President and CEO Peter Secker.
"With this appointment, detailed engineering and design are now under
way."
Mr. Secker also noted that
the Company remains "firmly on pace to meet deadlines to begin site works
by mid-2011 for the planned open-pit mine and processing plant."
Commissioning of the mine
and plant is scheduled for late 2012, with full production expected in 2013,
subject to financing and final permitting. Based on the final Feasibility Study
completed in mid-December 2010, initial capital costs are estimated to be
US$202.0 million and cash operating costs are estimated at US$2,600 per tonne of battery-grade lithium carbonate.
GENIVAR has significant
expertise in the lithium-ion battery sector. It is currently building a
state-of-the-art, lithium-based cathode material manufacturing plant for Phostech Lithium Inc. near Montreal. This cathode material
is an essential element of the new, efficient and environmentally benign
lithium-ion batteries coming on to the market. In addition, GENIVAR has
large engineering and environmental offices in both Val d'Or and Amos, in close
proximity to the Quebec Lithium Project.
About
GENIVAR Inc. and Met-Chem Canada Inc.
GENIVAR Inc. provides a comprehensive range of
engineering and environmental services. Its clients benefit from the
expertise of skilled specialists with extensive experience in geology,
feasibility studies, environmental assessments, mining development, mineral
processing, mining infrastructure, engineering, design, project management,
applied technologies and mining environments.
Met-Chem Canada Inc., headquartered in Montreal, Quebec, is a
multi-disciplinary engineering group established in 1969. Originally mandated
to provide all phases of mining, mineral processing and engineering services
throughout the world, Met-Chem's expertise has grown
to include the environmental sector and operations management. Met-Chem has completed numerous projects worldwide.
Recent projects include Bucko Lake in Manitoba and Duck Pond in Newfoundland.
About
Canada Lithium Corp.
Canada Lithium Corp. is
a Canadian-based "clean-tech" mine developer trading under the symbol
CLQ on the TSX and on the U.S. OTCQX market under the symbol CLQMF. The Company
has completed a definitive Feasibility Study (FS) on its Quebec Lithium Project
near Val d'Or, the geographical heart of the Quebec mining industry. The
Company plans to begin construction of an open-pit mine and processing plant
capable of producing by late 2012 approximately 44 million pounds per year of
battery-grade lithium carbonate to meet the growing needs of the emerging
global market for electric and hybrid electric vehicles. It has an agreement
with Japanese metals trading firm, Mitsui and Co. Ltd., to market a portion of
Canada Lithium Corp.'s product in China, Korea and Japan.
Metallurgical tests from deposit samples have produced 99.9% battery-grade
lithium carbonate.
Forward-looking
Information
The statements made in this
press release may contain certain forward-looking statements concerning
potential developments affecting the business, prospects, financial condition
and other aspects of Canada Lithium Corp. The actual results of the
specific items described in this release, and the company's operations
generally, may differ materially from what is projected in such forward-looking
statements. Although such statements are based upon the best judgments of
Canada Lithium Corp. management as of the date of this release, significant
deviations in magnitude, timing and other factors may result from business
risks and uncertainties including, without limitation, the Company's dependence
on third parties, general market and economic conditions, technical factors,
the availability of outside capital, receipt of revenues and other factors,
many of which are beyond the control of the Company. Canada Lithium Corp.
disclaims any obligation to update information contained in any forward-looking
statement.