LG Energy Solution has committed to a binding offtake arrangement with Elevra Lithium, securing spodumene concentrate shipments originating from Canada. The deal encompasses 240,000 dry metric tons delivered across a four-year window, with the first shipments arriving in 2026.
Elevra's North American Lithium operation, located in Quebec, will supply the raw material under this agreement. By expanding its North American sourcing footprint, LG Energy Solution is positioning itself to meet surging demand for stationary energy storage infrastructure. The company has not made public the financial terms of the contract.
Spodumene Concentrate Broadens Raw Material Supply
Spodumene concentrate serves as a precursor material that manufacturers can refine into either lithium carbonate or lithium hydroxide. LG Energy Solution currently procures both of these processed lithium compounds from various sources. Adding spodumene concentrate to its portfolio represents a deliberate strategy to widen its supply base.
This diversification approach enables the battery manufacturer to respond with greater agility to fluctuating market demand for both electric vehicle batteries and stationary storage systems. However, LG Energy Solution has not disclosed which facilities will handle the processing of the incoming Canadian concentrate.
Source: Battery-News
