Rock Tech Lithium (TSX-V:RCK) sees the Ontario Government’s latest approval of a C$500 million ($546 million) Critical Minerals Processing Fund (CMPF) as an ‘important’ building block in establishing a regional and integrated lithium battery supply chain.
First announced in the 2025 Budget, the CMPF is designed to accelerate Ontario’s critical minerals processing capacity and strengthen the province’s position in the global battery materials supply chain.
Rock Tech’s proposed lithium conversion facility in Red Rock, Ontario, aligns with the CMPF’s mandate to support midstream critical minerals processing projects.
The converter is designed to deliver domestic lithium conversion capacity for battery-grade products, reduce reliance on offshore processing, as well as anchor downstream investment in Ontario’s electric vehicle and energy storage supply chain.
Rock Tech intends to work closely with provincial partners, Indigenous communities, and industry stakeholders to support developing an integrated, competitive, and resilient lithium supply chain in Ontario.
CEO Mirco Wojnarowicz says with the CMPF approved, Ontario is sending a signal that it plans to lead in battery materials.
“Our converter in Red Rock, built on the engineering and experience behind our European Union Critical Raw Materials Act Strategic Project in Germany, is exceptionally well-positioned to help deliver the processing capacity the province needs to compete globally,” Wognarowicz says.
The planned design of the Red Rock converter is based on Rock Tech’s fully permitted, shovel-reading converter in Guben, Germany. The company says this foundation gives the converter an advanced and de-risked design.
Rock Tech has invested more than 350,000 engineering hours and C$65 million into the design of its lithium conversion facilities.
Ontario is considered one of the most mineral-rich areas globally and a top 10 global jurisdiction for exploration. Some of the minerals in the province include nickel, graphite, copper, cobalt, and lithium.
The province’s supply of critical minerals includes the vast reserves found in the Ring of Fire, an area almost 5,000km2 located about 500 kilometres northeast of Thunder Bay.
Write to Aaliyah Rogan at Mining.com.au
Images: Rock Tech Lithium
