LG Energy Solution Secures Multi-Year Supply of U.S.-Produced Lithium Carbonate From Smackover Lithium
The deal covers 8,000 metric tonnes a year and brings Smackover Lithium to about 90% of its targeted initial offtake.
- On Monday, LG Energy Solution signed a binding 10-year agreement to source 8,000 tonnes of battery-grade lithium carbonate annually from Smackover Lithium, with deliveries beginning in 2029.
- Smackover Lithium, a joint venture 55% owned by Standard Lithium Ltd. and 45% by Equinor ASA, develops the South West Arkansas Project using direct lithium extraction technology to pull lithium from brine.
- This deal anchors the SWA Project's customer portfolio, with roughly 90% of targeted annual offtake volume now committed, securing LG Energy Solution's North American energy storage supply chain.
- "We are excited to be entering into this Agreement," Standard Lithium Chief Executive Officer David Park stated, noting the deal positions the company in dynamic, growing industry segments.
- The partnership targets a Final Investment Decision this year, building on previous financing interest exceeding over $1 billion from three major Export Credit Agencies to enable 2029 production.
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LG Energy Solution is partnering with a U.S. lithium specialist to strengthen its supply chain for key minerals in North America. LG Energy Solution announced on the 1st that it has signed a long-term supply contract for lithium carbonate with Smackover Lithium, a U.S. company. Smackover Lithium is a U.S. lithium specialist developed by Standard Lithium and the Norwegian state-owned energy company Equinol
(Los Angeles=Yonhap News) Correspondent Kim Kyung-yoon = LG Energy Solution has signed a long-term contract to purchase lithium carbonate mined in Arkansas, USA, for approximately 2 trillion won...
Smackover Lithium Signs $15 Billion Supply Deal with LG Energy Solution for Arkansas Project
A company developing a major lithium project in South Arkansas has signed an estimated $1.5 billion agreement to supply battery manufacturer LG Energy Solution with lithium produced from the state's Smackover Formation. Smackover Lithium announced Monday, August 31st, that it entered into a binding 10-year [...]
LG Energy Solution signs a 10-year Arkansas lithium deal starting 2029
LG Energy Solution has signed a binding 10-year take-or-pay agreement for 8,000 tonnes a year of battery-grade lithium carbonate from Smackover Lithium in Arkansas, a joint venture 45% owned by Norway’s state-controlled Equinor, starting in 2029. LG signed a comparable offtake with Vulcan Energy in Germany in January 2022 that was due to begin delivering […] This story continues at The Next Web
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