PMET Resources Advances Lithium Project with Matagami Transportation Agreement

PMET Resources has signed a letter of intent with the City of Matagami to establish a transshipment route for spodumene concentrate from its Shaakichiuwaanaan Project in Quebec. The agreement outlines a logistics pathway where lithium-bearing material will be trucked to Matagami's transshipment yard, then transferred to rail for port delivery. Final commercial terms regarding infrastructure costs, service pricing, and operational details remain subject to negotiation before the company makes a final investment decision.

PMET Resources is developing the Shaakichiuwaanaan lithium project in Quebec and needs a viable path to move processed mineral concentrate to market. The newly signed letter of intent with Matagami establishes the basic structure for this logistics chain: material will travel by truck from the mining site to a regional transshipment hub, where it transfers to rail for the final journey to a port facility. This arrangement leverages existing infrastructure in Matagami rather than requiring the company to build entirely new transportation networks.

The agreement remains preliminary. Critical commercial details—including how the city and company will split costs for any facility upgrades, what fees PMET will pay for services, and how daily operations will function—have not yet been settled. The parties aim to reach a final binding contract before PMET makes its official decision to proceed with full project development and financing.