LG Energy Solution secures 700,000 lithium concentrate supply from Australia

Pulse 입력 2022. 1. 12. 14:42 수정 2022. 1. 12. 16:42
글자크기 설정 파란원을 좌우로 움직이시면 글자크기가 변경 됩니다.

이 글자크기로 변경됩니다.

(예시) 가장 빠른 뉴스가 있고 다양한 정보, 쌍방향 소통이 숨쉬는 다음뉴스를 만나보세요. 다음뉴스는 국내외 주요이슈와 실시간 속보, 문화생활 및 다양한 분야의 뉴스를 입체적으로 전달하고 있습니다.

[Photo provided by LG Energy Solution Ltd.]
South Korea’s top pure-play battery maker LG Energy Solution Ltd. has inked a contract to purchase 700,000 dry metric tons of lithium spodumene concentrate from Austrian miner Liontown Resources Ltd. in a preemptive action to secure stable supply of the key ingredient for electric vehicle batteries amid soaring prices from ever-rising demand.

Under an offtake agreement, LG Energy Solution will receive the lithium spodumene concentrate supply from 2024 to 2028, according to industry sources on Wednesday.

The 700,000 dry metric tons of lithium spodumene concentrate is equivalent to producing 100,000 tons of lithium hydroxide, a key raw material with growing demand for easy mix with nickel for high-performance battery production. The supply will allow the company to make batteries that can power 2.5 million electric vehicles, running more than 500 kilometers on single charge.

Korean EV battery makers currently get 83.5 percent of their lithium hydroxide needs supplied from China, according to the Korea International Trade Association.

It reportedly is the first time for LG Energy Solution to sign lithium spodumene purchase contract with an Australian miner.

For nickel, the Korean battery maker has secured 20,000-ton supply through Ultium Cells, a 50:50 joint venture with American automaker General Motors that signed a deal with Canadian lithium-ion battery resource recovery company Li-Cycle.

On Wednesday, shares of LG Energy Solution’s parent LG Chem Ltd. gained 5.31 percent to close at 773,000 won. LG Energy Solution is scheduled to join the Kospi this month.

[ⓒ Maeil Business Newspaper & mk.co.kr, All rights reserved]

Copyright© 매일경제 & mk.co.kr. 무단 전재, 재배포 및 AI학습 이용 금지

이 기사에 대해 어떻게 생각하시나요?