Liontown Resources said it has executed a full-form offtake agreement with Beijing Sinomine International Trade Co. (BSIT) for the supply of spodumene concentrate from its flagship Kathleen Valley lithium project in Western Australia.
“Securing a near-term offtake with an established lithium refiner to sell initial volumes over the ramp-up period, de-risks sales during our ramp-up of the plant towards nameplate capacity,” said Managing Director and CEO Tony Ottaviano.
“This complements our existing long-term offtakes, which we will progressively bring into effect over the next 12 months as we increase production towards nameplate to support our offtake commitments.”
Under the terms of the agreement, Liontown will provide the supply of up to 100,000 dry metric tonnes of spodumene concentrate over the course of 10 months commencing by 30 September 2024.
The BSIT agreement follows long-term offtake contracts with Tesla, LG Energy Solution and Ford.
Source: Liontown Resource