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LGES also signed two non-binding Memorandums of Understanding (MoU) with Avalon and Snow Lake to secure a stable supply of lithium. Under the terms of the MoUs, Avalon will supply LGES with lithium hydroxide (11,000 tons per year) for five years initially, starting in 2025. LGES will also be provided with Snow Lake's lithium hydroxide (20,000 tons per year) for ten years once the production starts in 2025

LG Energy Solution Partners with Three Canadian Suppliers to Augment Key Battery Material Supply Chain in North America

LG Energy Solution (LGES; KRX: 373220) today signed separate partnership agreements with three major critical mineral suppliers in Canada. The latest arrangements to secure lithium and cobalt from Snow Lake Resources Ltd. (LITM:NASDAQ) ("Snow Lake"), Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) ("Electra") and Avalon Advanced Materials Inc. (TSX: AVL) (OTCQB: AVLNF) ("Avalon"), are in line with LG Energy Solution's strategic vision to reinforce its key battery materials supply chain in North America

By AP News
Published - Sep 22, 2022, 07:04 PM ET
Last Updated - Apr 12, 2024, 02:15 PM EDT
  • LGES reinforces its cobalt and lithium supply chain in North America by forging comprehensive collaborations with key suppliers in Canada
  • The company to further expand its efforts in securing raw material supply chain in North America to uphold its mid- to long-term strategy focusing on North American market
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