Australia's Liontown inks spodumene supply deal with China's Canmax Technologies
Dec 9 (Reuters) - Australia's Liontown LTR.AX said on Tuesday it has signed an offtake deal to supply 150,000 wet metric tons of spodumene concentrate in 2027-2028 from its Kathleen Valley project to Chinese lithium chemicals maker Canmax Technologies 300390.SZ.
Pricing will be based on a formula linked to spodumene concentrate indices, the lithium miner said in a statement.
Spodumene concentrate, used to make lithium chemicals for EV batteries, is seeing growing efforts to standardize auctions for clearer benchmarks and stronger market links.
The flagship Kathleen Valley project, which produced its first concentrate in July 2024, is powered by about 80% renewable energy.
Liontown has offtake agreements with automakers, including Tesla TSLA.O and Ford Motor F.N.
Last month, Liontown said its first online auction for spodumene concentrate from Kathleen Valley fetched a price far above prevailing spot levels, the latest indicator to suggest a long-awaited recovery in lithium demand taking root.
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