Australia's ioneer hits near 3-month high on lithium offtake deal

Ioneer

01/08/2022 01:57

** Shares of lithium producer ioneer Ltd  INR.AX  climb as
much as 6.3% to A$0.595, their highest since May 6
    ** Co signs https://www.asx.com.au/asxpdf/20220801/pdf/45cdrr8czf81w8.pdf
 binding lithium offtake agreement with Prime Planet Energy &
Solutions (PPES), a joint venture between Toyota Motor Corp
 7203.T  and Panasonic Corp  6752.T   urn:newsml:reuters.com:*:nL1N2ZB08M
    ** Under deal, co will supply lithium carbonate to PPES from
its Rhyolite Ridge Lithium-Boron project in Nevada, United
States for a duration of five years
    ** PPES will utilise ioneer's lithium carbonate to produce
batteries for use in U.S. electric vehicles, says INR
    ** Stock up for a third consecutive session
    ** As of last close, ioneer stock down ~99.5% YTD
    


 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))