Australia's ioneer climbs as co signs lithium offtake deal with Ford

Ioneer

22/07/2022 01:52

** Shares of lithium producer ioneer Ltd  INR.AX  climb as
much as 14.1% to A$0.565, their highest since June 1
    ** Co signs a binding offtake supply agreement with Ford
Motor Co  F.N  to supply the U.S. carmaker with lithium
carbonate from its Rhyolite Ridge Lithium-Boron Project in
Nevada  urn:newsml:reuters.com:*:nASXbLsVml urn:newsml:reuters.com:*:nL1N2Z21FN
    ** Says the five-year agreement is for a total of 7,000 
tonnes per annum of lithium and represents about 34% of annual
output in the first five years of production
    ** Shares mark their biggest intraday gain since June 24
    ** As of last close, stock down 38.1% this year

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))