Australian lithium developer Anson Resources said it will supply battery-grade lithium carbonate to South Korea's LG Energy Solution (LG ES) under a newly signed offtake agreement.
LG ES will purchase 4,000 metric tonnes (t)/yr battery grade from Anson for five years starting in 2028, with an option to extend for another five years.
The lithium carbonate will be produced from Anson's wholly owned Green River brine project in Utah's Paradox Basin, accounting for 40pc of its planned capacity of 10,000 t/yr.
Pricing will follow a formula tied to market rates for battery-grade lithium carbonate.
Anson has a non-binding agreement with South Korea's Posco to build a demonstration plant to test direct lithium extraction technology. It established a royalty rate with the Utah government, scaled from 1-5pc based on market conditions.
Fast-track permitting for the Green River project is 90pc complete.
