PERTH (miningweekly.com) – ASX-listed Global Lithium Resources has signed a ten-year spodumene concentrate offtake agreement with Suzhou TA&A Ultra Clean Technology Co.
Under the terms of the 10-year agreement, Suzhou TA&A will acquire and take delivery of no less than 30% of available product from Global Lithium’s operations, and subject to Global Lithium approval, will have the opportunity to increase the quantity of product in excess of the agreed base quantity, up to an additional 15% in each contract year.
“As Global Lithium continues to advance our significant West Australian lithium portfolio, having the continued support of a world leader like Suzhou TA&A is truly an exceptional vote of confidence in our company, our people and our assets,” says Global Lithium executive chairperson Warrick Hazeldine.
“Having joined our register in December 2021 as a cornerstone investor, Suzhou TA&A has provided tremendous support in not only maintaining their 9.4% stake but also providing invaluable introductions and assistance, which has led us to signing this strategic offtake agreement.”
Global Lithium has previously defined a total inferred mineral resource of 18.4-million tonnes, at 1.06% lithium dioxide at its Marble Bar and Manna projects, in which it owns 100% and 80% respective interests