- Write by:
-
Friday, November 9, 2018 - 12:18:49 PM
-
1218 Visit
-
Print
Mining News Pro - Altura Mining and Chinese company Ganfeng Lithium have signed a three-year lithium offtake deal.
According to Mining News Pro -The deal will see Altura deliver a minimum of 70,000 tonnes a year of lithium from its open pit Pilgangoora project in Western Australia to Ganfeng-owned battery metals company GFL until the end of 2021.
Ganfeng is China’s largest lithium compound producer and also the world’s largest lithium metal producer.
Altura has committed to a minimum of 8000 tonnes of delivery for the remainder of 2018, after which the 70,000 tonnes a year target will come into effect.
The lithium is marked at a 6 per cent minimum for spodumene concentration and will be sold at a minimum of $US550 ($757) per dry metric tonne and maximum of $US950 ($1308) per dry metric tonne until the end of 2020.
The deal locks in a 100 per cent offtake figure for Altura’s planned stage one production of 220,000 tonnes a year at Pilgangoora and also allows for up to 10 years of extensions.
A stage two definitive feasibility study (DFS) showed the site could potentially double capacity to 440,000 tonne a year.
“Ganfeng is one of the largest and most respected lithium companies in the world and an offtake agreement with them is further proof of the quality of the product we are producing from the Altura lithium operations,” Altura managing director James Brown said.
Altura also has an offtake deal in place with another Chinese partner, Shaanxi J&R Optimum Energy, which has secured an agreement for a minimum 50,000 tonnes a year from 2019.
Short Link:
https://www.miningnews.ir/En/News/294360
Mining News Pro - In the difficult and exhausting conditions of unilateral and cowardly sanctions, more than any other ...
Mining News Pro - The CEO of Khuzestan Steel Company informed about the plans made to reach the production level of 13 ...
Mining News Pro - The 19th International Metallurgy Exhibition (IranMetafo) was held at the permanent location of Tehran ...
Mining News Pro - European Commission President Ursula von der Leyen said last month that commodities like lithium and ...
Mining News Pro - In response to Western sanctions, Russian miners have looked towards merging to create companies ...
Mining News Pro - In 2020, Iran started to promote mining tourism by launching the first project in the Anguran lead and ...
Mining News Pro - Acid mine drainage has long been a scourge in Appalachia. Recent research suggests that we may be able ...
Mining News Pro - Using a global data set of zircon trace elements, new research demonstrates the power of machine ...
Mining News Pro - The global markets of nickel, lithium and cobalt – three of the key metals used in electric vehicle ...
No comments have been posted yet ...