LG Energy Solution signs big lithium ore concentrate contract

Home > Business > Industry

print dictionary print

LG Energy Solution signs big lithium ore concentrate contract

LG Energy Solution has signed an initial contract to purchase 700,000 dry metric tons of lithium ore concentrate from an Australian miner, a document showed Wednesday, a deal that could help the company secure a supply of lithium-ion battery materials.
 
A disclosure document posted by Liontown Resources said it will supply the lithium spodumene concentrate to LG Energy Solution under a five-year offtake agreement starting 2024, with a potential extension for another five years.
 
The output will come from its $341 million lithium mining project underway in Western Australia.
 
Lithium spodumene is a feedstock for lithium chemicals used in the production of batteries for electric vehicles (EVs). With 700,000 dmt of spodumene, a battery maker can roughly produce enough to be used in some 2.5 million EVs.'
 
Yonhap
Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
s
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)

What’s Popular Now