COVID–19 NEWS   COVID-19: Over 1.1 million kids in Malaysia fully vaccinated | MOH does not plan to extend PICKids | COVID : 30.4 pct of children in Malaysia fully vaccinated | N Korea reports one additional death amid COVID-19 outbreak | S Korea to resume issuing short-term travel visas, e-visas next month | 

​Liontown seals foundational binding Offtake Term Sheet with LG Energy Solution

12/01/2022 01:12 PM

KUALA LUMPUR, Jan 12 -- Liontown Resources Limited (Liontown or the Company) has signed foundational binding Offtake Term Sheet with premier global battery maker LG Energy Solution (LGES).

Cornerstone offtake agreement provides strong market validation for the product quality and Tier-1 jurisdiction credentials of Liontown's Kathleen Valley Lithium Project, according to a statement.

Among the highlights, Binding Lithium Spodumene Concentrate Offtake Term Sheet signed with South Korean-based LGES. Foundation agreement underpins the development of Liontown's A$473 million Kathleen Valley Lithium Project in Western Australia. (A$1 = RM3.01)

Initial five-year term expected to commence in 2024, with the ability to extend for a further five years. 

In addition, LGES to purchase 100,000 dry metric tonnes (DMT) in the first year, increasing to 150,000 DMT per year in subsequent years.

Meanwhile, pricing determined using a formula-based mechanism referencing market prices for Lithium Hydroxide Monohydrate.

The landmark Offtake Term Sheet is strongly aligned with Liontown's offtake strategy, which is targeting Tier-1 customers downstream in the global battery value chain.

Negotiations continue with several Tier-1 customers that will complement Liontown's offtake strategy of establishing a diverse portfolio of high-quality customers, defined both by geographic location and position within the global battery value chain.


Bernama is the trusted source of reliable real-time comprehensive and accurate news for both the public and media practitioners. Our news is published at ; BERNAMA TV on: Astro Channel 502, unifi TV Channel 631, MYTV Channel 121 IFLIX; and Bernama Radio broadcasting locally on FM93.9 in Klang Valley, Johor (FM107.5), Kota Kinabalu (FM107.9) and Kuching (FM100.9).

Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter :, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial

© 2022 BERNAMA   • Disclaimer   • Privacy Policy   • Security Policy