Liontown will supply lithium for Tesla

Now lithium, used for the American Tesla production of electric vehicles, will be supplied by the Australian developer of projects for the production of high-quality lithium Liontown Resources. The companies entered into a corresponding agreement for five years. According to MarketWatch, lithium will be supplied to Tesla in 2024. The supply agreement terms of the provider of 100 thousand tons of spodumene concentrate, which is the main raw material for lithium production, during the first twelve months. In the future, deliveries will increase to 150,000 tons annually. Liontown is developing a new project in Western Australia. The main work in this field is scheduled to begin in the Q4 of this year. The total cost of this project is 473 million Australian dollars. Planning for the sale of raw materials received from this project, Liontown already has agreements in its arsenal concluded for more than 50% of the estimated production volume. Liontown’s market value is over $3 billion and has quadrupled in twelve months.

Source: xCritical.com