06:44 AM EDT, 09/19/2024 (MT Newswires) -- Rock Tech Lithium ( RCKTF ) overnight Thursday said a scoping study confirmed the economic viability and operational feasibility for the construction and operation of a lithium conversion facility in Ontario, with a net present value of $2.3 billion.

The study also confirms that Rock Tech can transfer a substantial portion of its technical expertise from its converter operations in Guben, Germany to Canada. This will speed up project development, and also provide a competitive advantage to constructing the first Converter in Ontario, the company said in a statement.

"We successfully validated our knowledge transfer capabilities and have laid out a realistic path to bringing Lithium conversion to Ontario. Our proven experience in Guben provides Rock Tech with a strong competitive edge and demonstrates our leadership in advancing lithium processing in Ontario before the end of the decade," said Jennifer Main, chief operating officer for the Ontario Converter Project.