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Infinity Lithium inks offtake MoU with LG Energy Solution for San José lithium hydroxide
The Memorandum of Understanding provides the potential to support a global leading lithium-ion battery producer to secure essential facets of the supply chain”, says CEO & MD. Infinity Lithium s new offtake deal could see it supply lithium hydroxide to a world-leading battery producer.
Infinity Lithium Corporation Ltd (ASX:INF) (FRA:3PM) has inked a key non-binding Memorandum of Understanding (MoU) relating to a potential offtake agreement with major South Korean lithium-ion battery producer LG Energy Solution (LGES).
Under the proposed deal, the ASX-listed minerals company will provide LG with lithium oxide from the second-largest JORC-compliant hard rock lithium deposit in the European Union: the San José Lithium Project in Spain.
S&P/ASX 200 dips as new COVID-19 cases in NSW continues to grow
Gold prices gained 0.1% to US$1,781.19 per ounce on Monday as tamer-than-expected U.S. inflation data allayed fears of an early monetary policy tightening by the US Federal Reserve. The US Fed’s preferred inflation measure, the personal consumption expenditures price index, rose 3.4% from a year ago, in line with Wall Street estimates.
S&P/ASX 200 (INDEXASX:XJO) slipped 0.11% to 7,300 points by about 12.55 pm as NSW recorded 18 new Covid-19 cases in the 24 hours to 8 pm last night, bringing the total number of infections in the Bondi cluster to 130.
Infinity Lithium welcomes offtake MoU with LG Energy Solution
Infinity Lithium Corporation Ltd s (ASX:INF) (FRA:3PM) Ryan Parkin speaks to Proactive following the news it s inked a key non-binding MoU relating to a potential offtake agreement with major South Korean lithium-ion battery producer LG Energy Solution (LGES). The deal stipulates Infinity Lithium will supply lithium hydroxide from the San José minerals project to LG over an initial five-year period. It also leaves room for the partnership to continue for a further five years, subject to both parties’ consent.
Quick facts: Infinity Lithium Corporation Ltd
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