Australia is a top source of lithium for EV batteries. Much of the world's lithium used for such purposes comes from there. Now we've got news of a major lithium mine in Australia using batteries
an offtake agreement earlier this year for the spodumene concentrate for “up to 150,000 dry metric tonnes per annum for an initial term of 5 years from the commencement of commercial production” — but the spodumene concentrate will also be refined into lithium hydroxide elsewhere before making its way into Ford EV batteries. Ford also provided a $300 million debt facility for financing of the project.
Tesla and LG Energy Solution are other customers who have agreed to buy spodumene concentrate from the Kathleen Valley Lithium Project. The total dry metric tonnes these three companies agreed to offtake from the lithium mining project annually are as follows:Tesla — 100,000 DMT in the first year, growing to 150,000 in subsequent years.
The mine is expected to be operational for more than 20 years. Production of the spodumene concentrate is expected to begin in the third quarter of 2024.
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