Lithium Universe (ASX:LU7) said it is in talks with multiple spodumene concentrate producers regarding long-term feedstock supply agreements for the Bécancour Lithium Refinery in Canada, according to a Monday Australian bourse filing.
The firm is targeting a nonbinding memorandum of understanding for the full supply of 140,000 tonnes per annum for SC6 grade spodumene material. The target tonnes will proportionally increase if the grade is less than 6% of lithium oxide. The supply agreement could be converted to a definitive agreement when the refinery becomes funded and construction begins.
It is targeting supply beginning around 2028 at around 56,000 tonnes per year. The supply is expected to increase to 98,000 tonnes in 2029 and reach full capacity at 140,000 tonnes per annum from 2030 onwards.
It is proposed that the spodumene concentrate will be refined into around 18,270 tonnes per annum of battery-grade lithium carbonate.
It is targeting a minimum supply term of 10 years.
The firm plans to purchase spodumene ore at benchmark prices from the market, and it will retain full ownership of the resulting lithium carbonate.
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