Connect with us

Energy & Critical Metals

LG Energy signs battery material deals with Canadian firms

The agreements were signed with Electra Battery Materials, Snow Lake Resources, and Avalon Advanced Materials.
The post LG Energy signs battery material…

Share this article:

Published

on

This article was originally published by Mining Technology

South Korean battery maker LG Energy Solution (LGES) has reached agreements with three major critical mineral suppliers in Canada to strengthen its key battery materials supply chain in North America.

The firm signed the agreements with Electra Battery Materials, Snow Lake Resources, and Avalon Advanced Materials.

Under the binding term sheet with LGES, Electra will deliver 7,000t of cobalt sulfate over three years. This is effective from next year.

The material is planned to be supplied from Electra’s cobalt sulfate refinery located north of Toronto, Ontario, Canada.

Furthermore, LGES signed two non-binding memorandums of understanding (MoUs) with Snow Lake and Avalon to secure a stable lithium supply.

Avalon agreed to supply 11,000tpa of lithium hydroxide to LGES for an initial period of five years, starting in 2025.

During the initial five years, Avalon will provide at least 50% of its initial lithium hydroxide production from its Thunder Bay facility in Ontario.

Furthermore, LGES will receive 20,000tpa of lithium hydroxide from Snow Lake for a ten-year period, effective from 2025.

LG Energy Solution CEO Youngsoo Kwon said: “As we have recently announced our mid-term to long-term strategy to focus on North America, the fastest growing EV market, these partnerships serve as a crucial step towards securing a stable key raw material supply chain in the region.

“By constantly investing in upstream suppliers and establishing strategic partnerships with major suppliers of critical minerals, LGES will continue to ensure the steady delivery of our top-quality products, thereby further advancing the global transition to EVs and ultimately to a sustainable future.”

The post LG Energy signs battery material deals with Canadian firms appeared first on Mining Technology.

lithium
cobalt

Share this article:

Uncategorized

Sigma Lithium Corporation (NASDAQ: SGML) Stock Forecast 2022: Profitable With Bullish Signals

In the last trading session, 1.19 million shares of the Sigma Lithium Corporation (NASDAQ:SGML) were traded, and its beta was 0.35. Most recently the company’s…

Share this article:

Continue Reading
Energy & Critical Metals

Nuclear Power Is Declining in the West and Growing in Developing Countries

With the growing energy crisis, nuclear energy could provide the West with a solution to both decarbonization and supply concerns. Yet capacity is declining…

Share this article:

Continue Reading

Rio Tinto is drilling for WA’s Next Big Lithium Discovery

Unlike fellow iron ore giant BHP (ASX:BHP), Rio Tinto (ASX:RIO) is sold on the lithium thematic. … Read More
The post Ground Breakers: Rio Tinto is drilling…

Share this article:

Continue Reading

Trending