Lithium Offtake Agreement
Shanshan owns 15.1% of Altura and is described as the world`s leading supplier of anode and cathode equipment for the lithium battery market. “The terms reflect the base price component of our existing customers, which provides us with considerable security, while the agreed prepayment provides a healthy working capital buffer during the start-up phase.” “Our client list has some of the biggest and best names in battery materials, and the addition of Shanshan to this list shows the growing market desire for stable, long-term, high-quality lithium stocks,” he added. The company has completed a feasibility study on a possible second extension, with a final investment decision to be made following verification of the operation of the first stage, production growth, takeover agreements and guarantee of financing of the extension. Altura Mining has signed a buyout agreement with Chinese lithium materials producer Shandong Ruifu for a product from its lithium mine in Pilgangoora, Western Australia. The temporary slip of both parties, with due diligence requirements, paves the way for a binding agreement before the end of the year, under which Core 50,000tpa of lithium concentrate would provide for an initial period of five years. “I am pleased to inform you that we have signed a taketake contract with Sibelco on Arcadia`s ultra-low high iron petalite. Chief executive James Brown said the agreement diversifies Altura`s customer base, is a risky distribution channel and is evidence of both the quality of the product and the “leading character” of Altura`s operations. Stephen Biggins, managing director of Core Lithium, says the promising partnership is the result of intense collaboration with several potential clients and project proponents who have accelerated after northern Terri Government`s recent approval for mining and production of the Finniss Lithium project, just 25 km from Darwin. “Transamine has demonstrated the experience of lithium reduction with various lithium manufacturers and has established strong relationships with converters. This is in addition to their high standards of conduct – promoting sustainability, social and environmental responsibility.
“This launch schedule reinforces confidence in the Finniss-Lithium project and the overall demand for lithium, and we are encouraged to make progress towards construction, commissioning and production. “China remains a very important market for us.