RB Energy closes lithium plant and dismisses staff as money runs dry

By Siobhan Lismore-Scott
Published: Thursday, 09 October 2014

When Canada Lithium came to the market with a new plant, secured an offtake agreement and merged with production stage iodine company Sirocco Mining, it seemed like it would be plain sailing for the company. Lower lithium selling prices, an ambitious expansion plan and untenable finances however meant that it has struggled to make ends meet. This a stark warning to juniors in this space that even developed projects are struggling.

Canadian lithium producer RB Energy Inc has halted all operations at its Quebec lithium project and temporarily dismissed staff after it failed to secure the funding required to maintain operations.

The company admitted last week that it would have to take the drastic step of putting its operations on care...

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