Elevra Lithium (ASX:ELV) has executed a binding spodumene concentrate supply agreement with LG Energy Solution (KRX:373220) for material produced at its North American Lithium (NAL) operation in Québec, Canada.
The agreement provides for the supply of 240,000 dry metric tonnes of spodumene concentrate over three years starting from the date of first shipment, which is expected to arrive within calendar year 2026.
The contracted base quantity comprises 30,000 dry metric tonnes in 2026, 60,000 dry metric tonnes in both 2027 and 2028, and 90,000 dry metric tonnes in 2029.
Elevra may supply up to 90,000 dry metric tonnes of optional volume over the three-year term.
The agreement establishes market-linked pricing for spodumene concentrate adjusted for lithium content.
Managing Director and CEO Lucas Dow says the agreement represents an important step in implementing the commercial strategy outlined with the company’s FY26 annual results.
“[This agreement] provides Elevra with a committed customer for a meaningful portion of NAL’s production while retaining exposure to spodumene concentrate market pricing,” Dow says.
“Securing a leading global battery manufacturer as a customer further strengthens the commercial position of NAL and supports our strategy of building a diversified portfolio of high-quality customers as we increase production and progress the NAL expansion.”
Elevra Lithium is a lithium developer and producer with assets across North America and Australia.
Write to Paula Fabe at Mining.com.au
Main image: Elevra Lithium
