Livent seeks arbitration as Nemaska terminates supply agreement
Quebec junior Nemaska Lithium has terminated its multi-year supply agreement with Livent, prompting the NYSE-listed company to announce that it would “enforce its rights” and resume its arbitration.
Nemaska was supposed to start supplying lithium carbonate to Livent in April this year, at a rate of 8 000 t/y, or 28 000 t over the term of the contract.
Nemaska and Livent have been locked in negotiations to revise the schedule for the supply of lithium carbonate, among other agreements. Livent previously filed arbitration, but suspended it during the negotiation period.
Nemaska said that Livent had advised that it “might have no option but to terminate the supply agreement and repay Livent the $10-million payment, plus a similar amount as a termination fee”.
“Despite good faith negotiations, the corporation was unable to reach a mutually satisfactory outcome with Livent,” Nemaska said.
This is the second knock for Nemaska, which last week announced that it would need a further C$375-million to complete its Whabouchi mine and Shwanigan electrochemical plant. Nemaska initially set a budget of C$874.4-million for the project.
Over the life-of-mine production, the company is expected to produce seven-million tonnes of spodumene concentrate, which will be converted into about 770 000 t of battery-grade lithium hydroxide and about 361 000 t of battery-grade lithium carbonate, which equates to about 213 000 t/y of concentrate being converted to about 23 000 t/y battery-grade lithium hydroxide and 11 000 t/y of lithium carbonate.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
