Standard Lithium (SLI) said Monday that its joint venture with Equinor, Smackover Lithium, signed a 10-year binding take-or-pay offtake agreement with LG Energy Solution for 8,000 metric tonnes of battery-quality lithium carbonate annually from the South West Arkansas Project.

The deal brings about 90% of the project's targeted offtake volume under contract, alongside an existing Trafigura agreement, it said.

The project's initial phase targets annual production of 22,500 metric tonnes of lithium carbonate, it added.

Standard Lithium said the agreement supports financing plans and a Final Investment Decision targeted for 2026, with commercial production expected in 2029.