Jan. 10. 2013
Marubeni Corporation announced today it has signed a three-year Distributorship Agreement of Lithium Carbonate with Canada Lithium Corp. The Agreement provides for Marubeni to exclusively distribute Canada Lithium’s battery-grade lithium carbonate in Japan. Under the terms of the Agreement, Marubeni will start purchasing lithium carbonate in 2013 and has an option to purchase up to 5,000 tonnes per year by 2015.
Lithium Carbonate is used for various industrial chemicals, as well as for the raw material of Lithium Ion Batteries (LIB). The market of LIB and its raw materials is growing rapidly due to the spreading demand for hybrid/electric vehicles, mobile electronic apparatus and energy storage systems, while the number of companies that supply lithium carbonate is limited. Therefore many companies are longing for suppliers that can supply high-quality lithium carbonate steadily. With the Agreement, Marubeni is able to supply price competitive and high-quality lithium carbonate made from low impurity ore, and support the Japanese LIB industry to grow further.
Marubeni Group is engaged in various businesses in the LIB market such as ultra-high purity lithium carbonate production, sales of LIB for various uses, sales of raw materials for LIB, and so on. The Agreement will give Marubeni the base to establish a sophisticated value chain in the LIB market and meet any kind of requirement of its customers.
<About Canada Lithium Corp.>
|Company name||:||Canada Lithium Corporation|
|Company Address||:||Toronto, ON, Canada|
|Registered Capital||:||C$ 195 million (TSX listed)|
|Main Business||:||Production and sales of lithium carbonate|
|Capacity||:||20,000 tonnes / year (planned)|
|First Shipment||:||March, 2013 (planned)|