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Altura inks another offtake

1st August 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Lithium miner Altura Mining has signed another lithium offtake agreement at its Pilgangoora project, in Western Australia.

The company has inked a binding offtake agreement with Chinese lithium materials producer Guandong Weihua Corporation for 50 000 t/y lithium concentrate over a five-year period.

The first shipment of around 10 000 t is expected to load this month, with further deliveries of the remaining 2019 allocation of 40 000 t to take place until February 2020.

Altura MD James Brown said that pricing for the shipments would be based on a lithium oxide content formula, incorporating published reference pricing weighted for lithium carbonate and other process factors.

“This new agreement with Weihua continues to diversify and strengthen our existing customer base, which is key when developing a new energy supply chain. Weihua has established operations in China and demonstrated the ability to both mine and process battery precursor materials.”

With the Weihua offtake now secured, Altura has some 220 000 t/y under contract.

 

Edited by Creamer Media Reporter

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