Veldman brothers unveil ambitious plan for mineral corridor

The three Veldman brothers, well known around the Sault, are partnering with an Ontario mine developer to build what they hope will be the province's first lithium refinery in Red Rock, 110 kilometres northeast of Thunder Bay on the north shore of Lake Superior.

"From developing the northernmost port on the Great Lakes in partnership with the Red Rock Indian Band, to working with the town of Red Rock, Iron and Oak Railroad Services and Hydro One, we've been working to make Red Rock industry-ready," said Paul Veldman, BMI's chief executive officer. There, the company has outlined a 14.8-million-ounce lithium resource with an initial mine life of nine years for an open pit and underground operation.

"The exact terms and conditions of the lease and investment agreements will be negotiated in the coming weeks and amongst others are subject to the outcome of usual due diligence.""With BMI developing multimodal road and rail logistics capabilities in the port of Red Rock, the location is strategically positioned to become the prime lithium refining destination in northern Ontario," the Rock Tech release said.

The company is building another lithium conversion plant in Germany to supply the European market. BMI Group is hoping that by establishing a critical mineral transportation and bulk processing hub in Red Rock, developing multimodal hubs and creating state-of-the-art industrial manufacturing sites in Niagara, it can blaze a major supply chain for critical minerals and electric vehicles.

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