LG Energy Solution has signed a binding offtake agreement with Elevra Lithium for spodumene concentrate from Canada. According to the battery manufacturer, the agreement covers 240,000 dry metric tons over four years. Deliveries are expected to begin in 2026.
The raw material will come from Elevra’s operational North American Lithium project in the Canadian province of Quebec. LG Energy Solution aims to expand its raw material supply in North America and respond to demand for stationary energy storage systems. The announcement does not disclose specific contract prices.
Spodumene Concentrate Broadens Raw Material Supply
Spodumene concentrate is a feedstock that can be processed into lithium carbonate or lithium hydroxide. LG Energy Solution already sources both lithium compounds. The company aims to diversify its supply with the additional concentrate.
According to the company, this should allow it to adjust production more flexibly to demand for electric vehicles and energy storage systems. LGES did not specify where the Canadian concentrate will be processed.
Source:
https://news.lgensol.com/company-news/press-releases/5412/
