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Tesla Inks Supply Agreement With Australias Core Lithium
Tesla entered into a legally binding Term Sheet agreement with Australian lithium producer Core Lithium. As per the agreement, Core Lithium will supply up to 110,000 tonnes of Li2O spodumene concentrate to Tesla over a term of 4 years.
"Core Lithium is thrilled to have reached this agreement with Tesla and look forward to further growing this relationship in the years to come. Tesla is a world leader in electric vehicles, and its investment in offtake and interest in our expansion plans for downstream processing are very encouraging," said Core Lithium Managing Director Stephen Biggins.
Core Lithium will supply Li2O spodumene concentrate from its Finniss Lithium Project near Darwin, the capital of Australia’s Northern Territory. The project gained all NTgovernment approvals and is fully funded after raising $116 million from institutional investors and shareholders. Core Lithium also signed a 4-year offtake agreement with Ganfeng, which agreed to provide A$34 million in new equity subject to approvals from the Chinese Government.
Source: Re-posted and Summarized from Maria Merano at teslarati.
My Take: Tesla is getting all their ducks in a row for their big ramp up.
Re Posted From: Tesla Inks Supply Agreement With Australias Core Lithium
Tesla entered into a legally binding Term Sheet agreement with Australian lithium producer Core Lithium. As per the agreement, Core Lithium will supply up to 110,000 tonnes of Li2O spodumene concentrate to Tesla over a term of 4 years.
"Core Lithium is thrilled to have reached this agreement with Tesla and look forward to further growing this relationship in the years to come. Tesla is a world leader in electric vehicles, and its investment in offtake and interest in our expansion plans for downstream processing are very encouraging," said Core Lithium Managing Director Stephen Biggins.
Core Lithium will supply Li2O spodumene concentrate from its Finniss Lithium Project near Darwin, the capital of Australia’s Northern Territory. The project gained all NTgovernment approvals and is fully funded after raising $116 million from institutional investors and shareholders. Core Lithium also signed a 4-year offtake agreement with Ganfeng, which agreed to provide A$34 million in new equity subject to approvals from the Chinese Government.
Source: Re-posted and Summarized from Maria Merano at teslarati.
My Take: Tesla is getting all their ducks in a row for their big ramp up.
Re Posted From: Tesla Inks Supply Agreement With Australias Core Lithium