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Lithium Universe (ASX:LU7) has locked in a maritime port through which it can receive shipments of spodumene ahead of transit to the company’s lithium carbonate refinery.
The decision comes by way of a study into that matter wrapping up. Spodumene will be sourced from “within Canada or … Brazil, Africa, or Australia.”
The Becancour Port will be selected – fitting, given that the lithium refinery is also in the same locality.
Ports in Trois-Rivieres, Sorel and Quebec were also assessed, despite not being located near the refinery itself.
The port has a shipping capacity of up to 140,000tpa of spodumene with vessels to be “ideally carrying a cargo of 30Kt.”
The refinery is only capable ofl producing some 16Ktpa of battery grade lithium carbonate.
LU7 fleshed out the reasoning for its decision on Tuesday.
“The Bécancour Port, under the management of SPIPB and operated by Québec Stevedoring Limited (QSL), plays a pivotal role as a strategic transportation hub situated along the St. Lawrence River,” the company wrote.
“Owned by the Québec government, the port encompasses five berths, ranging from 150 to 292 meters in length, and includes a ro-ro ramp. Its freshwater location ensures optimal conditions for shipping activities. The port’s year-round accessibility is facilitated by its deep-water status.”
LU7 shares last traded at 2cps.
