Lithium producer Altura and Shanshan reach a long-term supply agreement

SMM6 March 19: Altura Mining issued a notice today that the company and Shanshan shares Hunan subsidiary Yong shirt lithium industry signed a 2020 supply agreement and a long-term supply agreement.

Shanshan, a listed company in China with a market capitalization of nearly 20 billion yuan, is one of the world's largest suppliers of lithium-ion battery materials, including positive, negative and electrolytes. At the same time, Sequoia owns 15.1% of Altura Mining.

Altura said the company will become a major supplier to Shanshan Xin Chemical Plant. The planned first phase production capacity of Shanshan New Chemical Plant is 25000 tons of lithium carbonate equivalent (LCE) per year. The total output of the second phase of the expansion will reach 45000 tons per year. Construction of the factory began in April.

According to the agreement signed, under the 2020 supply contract, Altura will provide 44000dmt spodumene concentrate (SC6) at market prices.

According to the long-term agreement, the minimum annual supply confirmed in the second to fifth years of the five-year off-take agreement (2021-2025) is 60000 dry metric tons.

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