Highlights:
Anson Resources (via its 100% owned subsidiary A1 Lithium) and LG Energy Solution have executed a Definitive Offtake Agreement ("Definitive Offtake Agreement") for the supply of battery grade lithium carbonate from Anson Resources' 100% owned Project within the Paradox Basin.
Subject to the satisfaction of customary conditions precedent (summarised in the annexure), the Initial 5-year term is expected to commence in 2028, with the ability to extend for a further five years.
LG Energy Solution to purchase 4,000 dry metric tonnes per year and specifies the operational and logistical requirements for the delivery of product.
Pricing is determined using a formula-based mechanism referencing market prices for battery-grade Lithium Carbonate.
LG Energy Solution is a leading global manufacturer of lithium-ion batteries for electric vehicles, mobility, IT, and energy storage systems.
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