Lithos gets happy with lithium production capacity
Lithos Corp LTS
Shares issued 42,527,706 Mar 17 close $2.49
Mon 20 Mar 2000 News Release
Mr. Louis Lessard reports
"The Limtech (Lithos) Corporation pilot plant currently operating at
Hydro-Quebec's LTEE in Shawinigan will double its production capacity,"
said Limtech president, Gilles Dupuis today as he commented on the
company's Shawinigan operations for the production of high-grade lithium
carbonate and its derivatives. This will allow Limtech to increase its
annual production from 50 to 100 tonnes.
Limtech is preparing to take possession of its new lithium carbonate pilot
plant in Shawinigan. On completion, the annual plant capacity will be 750
tonnes of high-grade lithium carbonate. Limtech's (Lithos) operations,
including those of the pilot plant, will be grouped into a single complex
of approximately 30,000 square feet, located on a property nearby Hydro
Quebec's Research Centre (LTEE). Limtech has already sufficient finances to
complete the construction of the 750 tonnes plant.
Even before the new installation was completed, it was essential to double
the production capacity of the pilot plant to satisfy the demand for
high-grade lithium carbonate and its derivatives," added Mr. Dupuis.
According to a 1998 market analysis by Kline & Company Inc., the worldwide
growth in demand will be in excess of 30 per cent per year over the next
ten years.
In 1997, Limtech, (Lithos) initiated a radical change in its industrial
strategy to position itself as a major international lithium carbonate
producer. The expansion that Limtech is announcing today is a significant
step in achieving this objective.
The high-grade lithium carbonate and its derivatives are used in the
manufacture of rechargeable extended life batteries, which are the
preferred technology for the electronics and computer industries as well as
in wireless communications equipment. In order to realize the plan to
double the production capacity of its pilot plant. Limtech (Lithos) has
obtained an environmental permit from the Quebec Ministry of the
Environment. The permit will allow Limtech to operate 100 tonnes per year
capacity lithium carbonate purification plant.
"As Limtech enters this new phase in its development, we are very
optimistic about the future of the company. Furthermore, the pilot plant's
increased production capacity will be able to satisfy the increasing number
of commercial orders presently being negotiated," concluded Mr. Dupuis.
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