Page 165 - CW E-Magazine (19-3-2024)

News from Abroad

COLLABORATION
Mitsubishi Corporation joins Frontier Lithium

in Canadian PAK lithium project

Japan’s Mitsubishi Corporation has and was prompted by the fact that the
entered into a binding agreement with project boasts among the largest and
Frontier Lithium, a Canadian lithium the highest-grade lithium resources
mining company, to form a new joint in North America. The proceeds from
venture (jv) dedicated to developing the investment will be primarily used
the PAK lithium project – a proposed to complete the feasibility study of
$576-mn fully integrated mine, along the project and to prepare for obtain-
with a lithium chemicals conversion ing permits required prior to the com-
refinery – located in Ontario, Canada. in 2013, Frontier has continued to con- mencement of construction.
duct exploration activities to increase
Mitsubishi Corporation will acquire its resource steadily, and as a result, the Mitsubishi Corporation said it will
a 7.5% equity interest in the jv for PAK project is expected to have a mine contribute to the development of the
CAD $25-mn (over $18-mn). The life of over 20 years, with production project by sharing its knowledge and
company will also have the right to of approximately 20-ktpa of lithium expertise in the mining business. The
increase its equity share to 25%. carbonate equivalent. project aims to commence production
of spodumene concentrates by 2027
Since the first drill programme that This is Mitsubishi Corporation’s and production of battery grade lithium
indicated significant lithium potential first ever investment in a lithium mine chemicals by 2030.
POWDER COATINGS
AkzoNobel completes capacity expansion at Vietnam

Dutch paints & coatings major,
AkzoNobel, has completed a €18.5-mn
investment project at its production
plant in Bac Ninh province near Hanoi
in Vietnam.

Five new powder coating lines have
been added at the multi-site, along with
a line for producing water-based pro-
ducts for the consumer electronics mar-
ket (IT, wireless and home appliances).

“The cutting-edge powder coating part of Vietnam. It means we can now contribute to AkzoNobel’s ambition
lines we’ve installed will help us to focus on streamlining our manufactur- to halve its own carbon emissions by
grow with our customers, serve them ing processes to meet the diverse needs 2030. The installation of a new line
faster and pave the way for a more of the Vietnam market,” he informed. for water-based consumer electronics
sustainable future,” said Mr. Jeff Jirak, products will also help to lower emis-
Managing Director of AkzoNobel’s The work included building a fully sions across the value chain. Adding
Powder Coatings business. “Increasing automated warehouse for the company’s the new lines in Bac Ninh is the latest
capacity at the site will enable us to consumer electronics activities, along in a series of investments in the South
focus on supporting volume growth in the with installing advanced equipment and Asia region, following recent capacity
northern part of the country, while our technology to deliver higher productivity expansions in Pakistan, Thailand and
Dong Nai facility covers the southern rates and efficiency gains. This will Australia.

Chemical Weekly March 19, 2024 165

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