The Rincon project is expected to produce 60,000 tonnes (t) of lithium carbonate annually.
O3 Mining's key asset is the Marban Alliance property near Val d'Or in Québec's Abitibi region.
The agreement grants Teck the option to acquire up to a 70% stake in the Makwa project.
Construction is expected to begin in the second half of 2025 (H2 2025), with the project aiming for completion by the end of 2027.
The discussions are reportedly still in preliminary stages and could lead to a partnership aligning with Chile's processing needs.
Two class action lawsuits were filed in the Federal Court of Australia.
Central Uranium Resources (CURC) holds the rights to the Route 500 property in Newfoundland and Labrador.
