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LG Energy Solution inks lithium & cobalt purchasing agreements with 3 Canadian miners

23 Sep 2022 15:41 reported by Joy Liu

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LG Energy Solution, a South Korean electric vehicle (EV) battery manufacturer, said that it has inked procurement agreements of lithium and cobalt with three Canadian mining companies, Electra, Avalon, and Snow Lake, in order to expand its operations in North America. These agreements were part of expanded mid- to long-term supply contracts with companies that mine and process critical battery materials in North America.

According to LG Energy Solution, Electra will annually supply 7,000 tons of cobalt sulfate to LG for three years from 2023, and Avalon and Snow Lake will yearly supply 55,000 tons of lithium hydroxide for five years from 2025 and 200,000 tons of lithium hydroxide for ten years from 2025, respectively.

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