Weekly Real Estate News
Frontier Lithium, (TSXV: FL), a pre-production mining company, has completed its acquisition of a vacant industrial site on Mission Island in Thunder Bay, Ontario.
The company closed on a previously disclosed unsecured convertible loan for aggregate proceeds of $3.35 million. The acquired property was formerly home to a coal-fired electricity generating station operated by Ontario Power Generation.
The Mission Island site comprises 183 acres of heavy industrial property, including a 50-acre water lot. The company plans to use the site for a proposed lithium conversion facility – the property offers existing high-voltage infrastructure, proximity to utilities, rail and access to water transportation networks.
“Securing land for Frontier Lithium’s future plans in the City of Thunder Bay marks a pivotal moment for Northern Ontario,” said Trevor Walker, CEO of Frontier Lithium. “This investment reinforces Ontario’s strength as a critical hub for Canada’s battery materials sector and the global clean energy transition. In addition to housing our planned lithium processing facility, regional office, and innovation center, Thunder Bay is ideally positioned to support the broader regional lithium supply chain as new resources come online.”
