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Liontown Sources (ASX:LTR,OTC:LINRF) has executed a binding offtake settlement with Chinese language conglomerate Canmax Applied sciences (SZSE:300390), as a part of its technique to diversify its buyer base.
“Listed on the Shenzhen Inventory Change, Canmax is among the world’s main producers of lithium-ion battery supplies, together with lithium hydroxide, lithium carbonate and different merchandise and a key buyer of a number of Australian and worldwide materials producers,” the corporate wrote in a Tuesday (December 9) launch.
The settlement is for the availability of 150,000 moist metric tonnes per 12 months of spodumene focus over two years in 2027 and 2028.
“(Canmax’s) participation in our 2025 institutional placement signalled sturdy confidence within the long-term potential of Kathleen Valley, and this offtake settlement reinforces their dedication,” Liontown Managing Director and CEO Tony Ottaviano.
The corporate stated that pricing can be decided utilizing a formulation referencing spodumene focus and that it’ll proceed its technique of platform-based spot gross sales to make sure honest worth for its merchandise.
Kathleen Valley is Western Australia’s first underground lithium mine, with its plant reaching industrial manufacturing in January 2025.
In accordance with Liontown’s newest quarter report, launched on July 29, Kathleen Valley produced over 300,000 moist metric tonnes of spodumene focus throughout its first 11 months of operations.
The Nationwide Reconstruction Fund Company (NRF) invested AU$50 million in Liontown to help Kathleen Valley final August 2025, whereas a personal funding from Canmax Applied sciences was devoted to stabilising financing throughout weak costs.
The corporate added that its settlement with Canmax enhances its present preparations with its Tier-1 clients.
In late November, Liontown introduced that its first digital public sale for spodumene focus attracted 9 nations, securing a bid of US$1,254 per dry metric tonne.
Liontown shared within the November replace that it stays on monitor to fulfill its 70 p.c lithia restoration goal by the tip of the third quarter of 2026.
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Securities Disclosure: I, Gabrielle de la Cruz, maintain no direct funding curiosity in any firm talked about on this article.
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