PLS Group (ASX:PLS) signed a two-year binding offtake agreement with battery materials manufacturer Canmax Technologies for the supply of 150,000 tonnes of spodumene concentrate per year, according to a Tuesday filing with the Australian bourse.
The supply will start this year, subject to the receipt of a $100 million advanced payment, the filing said.
The company has an option to extend the deal for a further 12 months, per the filing.
Shares rose past 4% in morning trade Tuesday.
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