lithium developer PiedmontLithium has inked a $75million investment and a 200 000 t takeoff deal with LGChem, while SayonaMining is traking to plan at NAL mining investment EV CriticalMinerals BatteryMetals resources
PERTH – Lithium developer Piedmont Lithium has inked a $75-million investment and offtake agreement with global chemicals company LG Chem.
Piedmont will supply LG Chem with 50 000 t/y of spodumene concentrate for four years with planned shipments beginning in the third quarter of 2023. Pricing will be determined by a formula-based mechanism linked to spodumene market prices at the time of each shipment.LG Chem will use the material to support its plans to produce cathode materials for key North American customers as well as the intentions of the Inflation Reduction Act of 2022 .
“We welcome LG Chem as a shareholder in Piedmont and are excited to partner with them to supply North American lithium that will meet the requirements of the IRA and support the development of the US battery supply chain,” said Piedmont president and CEO“LG Chem is a global leader with a commitment to US electric vehicle battery manufacturing and plans to build one of the world’s largest cathode plants in Clarksville, Tennessee.
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