Australian lithium producer Vulcan Energy signed a binding supply agreement with a Glencore subsidiary. Under the agreement, Vulcan will supply 36,000 to 44,000 tons of lithium hydroxide monohydrate from its Lionheart project on the German-French border. The eight-year contract covers approximately one-fifth of the company’s planned production during this period.
This contract marks the final purchase agreement required for project financing of the first phase of the Lionheart project. Vulcan had previously signed supply agreements with Stellantis, Umicore, and LG Energy Solution. The total financing package for the first project phase is expected to be finalized in the fourth quarter of 2025. Construction of the project’s commercial facilities in Landau in the Palatinate and Frankfurt-Höchst is scheduled to follow.
Vulcan plans to produce up to 24,000 tons of lithium hydroxide monohydrate annually at the two plants combined. According to the company, this amount is sufficient for approximately 500,000 electric vehicle batteries. Vulcan emphasizes that using deep geothermal energy supplies lithium and enables the generation of 275 gigawatt hours of electricity per year.
Source:
https://api.investi.com.au/api/announcements/vul/23a28720-a69.pdf
