PERTH (miningweekly.com) – ASX-listed Global Lithium Resources has signed a memorandum of understanding (MoU) with Korean electric vehicle battery cell manufacturer SKO On Co to explore the potential to develop downstream lithium assets.
The MoU will run for an initial two-year period, and will also consider SK On potentially supporting Global Lithium’s future capital raising, and potential investment and offtake opportunities at Global Lithium’s Marble Bar project, in the Pilbara, and at its Mana lithium project, in the Goldfields.
The MoU would also consider potential opportunities to collaborate on electric vehicle (EV) and battery material supply chains.
“The scope of this partnership has the potential to strengthen and diversify the future of Global Lithium’s projects in Western Australia both in the near term and in the years ahead," said Global Lithium MD Ron Mitchell.
“Evaluating downstream processing partnerships is a significant part of Global Lithium’s step-change growth strategy and the company will continue to build on a range of advanced discussions around the globe.
“The lithium and EV markets have experienced significant growth over the past two years and this expansion is only set to accelerate as demand for lithium-ion batteries increases. A partnership such as this will help position Global Lithium to be a key supplier of lithium to aid the continued sustainable development of the industry.”
SK On is one of the fastest-growing battery manufacturers in the industry, with battery production facilities operating in countries including the US, China, Hungary and Korea. SKO supplies batteries to global automakers including Ford Motor Company, Hyundai Motor Company and Volkswagen.