Altura Mining Ltd (Altura) has provided an update on offtake arrangements for its flagship Altura lithium mine located at Pilgangoora in Western Australia. Altura has continued to diversify its customer base, executing a five year BOA for 50 000 tpy of 6% grade spodumene concentrate (SC6) with Guangdong Weihua Corporation (Weihua), a market-leading Chinese based lithium materials producer.
The first shipment under the BOA of approximately 10 000 DWT is scheduled to load in August, with further deliveries of the remaining 2019 allocation of 40 000 dmt to take place up until February 2020. Pricing will be based on a Li2O content formula incorporating published reference pricing weighted for lithium carbonate and other process factors. Lionergy has agreed to a reduction in tonnage covered by their existing offtake obligation which will now provide for a minimum annual allocation of 65 000 DWT (previously 100 000 DWT).
Altura Managing Director James Brown said the offtake agreement with Weihua provided diversity in offtake and an immediate sale point for Altura.
“This new agreement with Weihua continues to diversify and strengthen our existing customer base, which is key when developing a new energy supply chain. Weihua has established operations in China and demonstrated the ability to both mine and process battery pre-cursor materials. We welcome the Weihua partnership and look forward to a successful and long-term relationship.” “Importantly for Altura, our high-quality lithium concentrate remains sought after in the market and we will continue to ensure the consistency and quality of our product to all our offtake partners.
Read the article online at: https://www.globalminingreview.com/mining/01082019/altura-provides-update-on-its-offtake-agreements-for-its-lithium-mine/