en.Wedoany.com Reported - Frontier Lithium has signed a Memorandum of Understanding (MOU) with South Korean shipbuilder Hanwha Ocean, which is currently bidding on a multi-billion dollar submarine project in Canada.

This non-binding MOU aims to assess the feasibility of supplying battery-grade lithium products from Frontier's proposed project in Ontario. Hanwha also stated that it may invest in Frontier after completing due diligence and further negotiations.

Trevor Walker, President and CEO of Frontier, said the company's development plans are highly aligned with Hanwha's long-term demand for advanced battery materials.

Jung Hoon Choi, Executive Vice President of Hanwha's Naval Ships Global Strategy Division, noted that the company recognizes the growing strategic importance of a secure and sustainable lithium supply chain for advanced technologies and energy storage applications.

Hanwha has also signed MOUs with other Canadian partners, including Defense Metals, the Automotive Parts Manufacturers’ Association, and Algoma Steel. These agreements aim to secure critical mineral supplies should the Canadian government select Hanwha for its submarine fleet modernization program.

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