Kidman in talks to sell lithium to LG Chem
Lithium developer Kidman Mining has potentially found another buyer for lithium hydroxide production from the Mt Holland lithium project, in Western Australia.
The ASX-listed company revealed on Wednesday that it had signed a memorandum of understanding (MoU) with LG Chem in terms of which it would supply 12 000 t/y of lithium hydroxide to the Korean chemical company over a ten-year period.
The companies are working towards executing a binding strategic supply agreement by July 31 next year.
Kidman has a stated objective of securing offtake agreements over about 75% of its share of production in the initial years of the Mt Kidman mine, which it owns in a 50:50 JV with Sociedad Quimica y Minera de Chile.
The MoU with LG Chem represents about 50% of Kidman’s share of lithium hydroxide production of 22 600 t/y. Together with the offtake agreement announced with Tesla in May and the binding heads of agreement announced with Mitsui & Co in November, the company has now arrangements in place that, once finalised, will cover the offtake volumes targeted by its strategy.
The integrated Mt Holland project is expected to produce spodumene concentrate from the mine and concentrator project, which will then be transported to the Kwinana lithium refinery and processed to produce some 45 254 t/y of battery grade lithium hydroxide.
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