Australia's Elevra signs spodumene supply deal with South Korea's LG Energy Solution
Australia's Elevra signs spodumene supply deal with South Korea's LG Energy Solution Oct 8 (Reuters) - Lithium producer Elevra ELV.AX said on Thursday it has signed an agreement to supply spodumene concentrate from its North American Lithium project in Quebec, Canada, to South Korea's LG Energy Solution 373220.KS.
Here are some details:
The deal covers the supply of 240,000 dry metric tonnes of spodumene concentrate over a three-year term beginning from the first shipment, which is expected in 2026, Elevra said
Spodumene concentrate is a key raw material used to produce lithium chemicals for electric-vehicle batteries
Elevra said it could also supply up to 90,000 dmt of additional concentrate, if both parties agree
The deal comes as LG Energy Solution looks to bolster its North American supply chain and meet growing demand for energy storage systems in the region
In a separate statement, LG Energy Solution said it has five standalone and joint venture battery facilities in North America
(Reporting by Rudrannsh Mehra; Editing by Shilpi Majumdar)
((Rudrannsh.Mehra@thomsonreuters.com;))
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