Infinity Lithium in Spanish offtake deal with Korean battery maker LG Energy Solution
|
San José lithium project. Image: Infinity Lithium
|
Infinity Lithium has agreed a lithium hydroxide offtake deal from its planned Spanish mine project with Korean batteries manufacturer LG Energy Solution (LES).
The Australia-listed minerals company said the non-binding memorandum of understanding with LES is for the long-term supply of battery grade LiOH from its San José Lithium Project, being developed some 270km south-west of Madrid.
The MoU covers the potential supply of LiOH for an initial five-year period, with the potential for a further five years’ supply.
Tier 1 partner LES, the battery making arm of LG Chem, would have "first right” to 10,000 tonnes per annum of production – with additional supplies subject to negotiation.
Infinity, a member of the European Batteries Alliance, said the companies aim to finalise a binding offtake agreement over the next 12 months.
World Battery News reported last September that Infinity had received commitments to raise $2.2m (£1.7m) through a placement for San José, as it looks to become a key supplier to Europe’s future electric vehicle batteries market.
Infinity is in a joint venture partnership with Valoriza Minería to develop San José, in Spain's autonomous Extremadura community. Infinity currently owns 75% of the project, which will be developed by open pit methods with the ore treated and refined onsite to produce high-quality, battery-grade lithium hydroxide.
According to Infinity, San José represents one of Europe’s largest lithium deposits. The company plans to mine the hard rock Mica resource and develop processing facilities to produce 15 kilotonnes of lithium hydroxide each year.
Related articles in our archive:
The Australia-listed minerals company said the non-binding memorandum of understanding with LES is for the long-term supply of battery grade LiOH from its San José Lithium Project, being developed some 270km south-west of Madrid.
The MoU covers the potential supply of LiOH for an initial five-year period, with the potential for a further five years’ supply.
Tier 1 partner LES, the battery making arm of LG Chem, would have "first right” to 10,000 tonnes per annum of production – with additional supplies subject to negotiation.
EV batteries market
Infinity, a member of the European Batteries Alliance, said the companies aim to finalise a binding offtake agreement over the next 12 months.
World Battery News reported last September that Infinity had received commitments to raise $2.2m (£1.7m) through a placement for San José, as it looks to become a key supplier to Europe’s future electric vehicle batteries market.
Infinity is in a joint venture partnership with Valoriza Minería to develop San José, in Spain's autonomous Extremadura community. Infinity currently owns 75% of the project, which will be developed by open pit methods with the ore treated and refined onsite to produce high-quality, battery-grade lithium hydroxide.
According to Infinity, San José represents one of Europe’s largest lithium deposits. The company plans to mine the hard rock Mica resource and develop processing facilities to produce 15 kilotonnes of lithium hydroxide each year.
Related articles in our archive: