07:29 AM EST, 11/27/2024 (MT Newswires) -- Rock Tech Lithium ( RCKTF ) , which fell near 3% close to 52 week lows on Tuesday, said Wednesday that the Guben Converter site in Germany has reached certain milestones, bringing the preparation of the site closer to completion by the first quarter of next year.

The Guben Converter will provide locally refined lithium hydroxide for electric vehicle batteries.

Official approval has been granted to connect the Guben Lithium Converter to Germany's rail network, for efficient transportation of raw materials from the ports of Hamburg and Bremen.

The relocation of the gas line on the site has been finalized and has been operating for the last three weeks. Rock Tech will construct a gas pressure reduction station early next year.