LG Energy signs contract with Australian mining company for 700,000 tons of lithium concentrate

LG Energy Solution (LG Energy Solutions) will receive 700,000 tonnes of lithium concentrate from Australian mining company Liontown Resources over a five-year period starting in 2024.

According to Korean media businesskorea, Liontown Resources publicly stated on the Australian Securities Exchange (ASX) on May 2, local time, that it signed a final lithium concentrate supply contract with LG Energy Solutions. The two companies had signed a pre-supply contract four months ago.

LG Energy Solutions said on January 12 that it had signed a pre-supply contract to purchase a certain amount from Liontown Resources, and the final supply contract could be extended for another five years.

Experts say 700,000 tons of lithium concentrate can be processed into 100,000 tons of lithium hydroxide, enough to produce the batteries needed for about 2.5 million high-performance electric vehicles that can travel more than 500 kilometers on a single charge.

Post time: May-05-2022
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