PILBARA SIGNS MOU FOR POTENTIAL SOUTH KOREAN DOWNSTREAM PROCESSING FACILITY
• Pilbara Minerals is in non-binding discussions in relation to the formation of a potential joint venture (‘Lithium Korea’) with Polaris Shipping and LG Chem for the development of chemical conversion facilities supplying up to 30,000 tonnes of Lithium Hydroxide to the South Korean lithium-ion battery industry.
• Lithium Korea is a special-purpose corporation incorporated by Polaris Shipping, envisaging, subject to further discussion, the participation of both Pilbara Minerals and leading South Korean conglomerate LG Chem (a key end-user of lithium chemicals) within the Chemicals JV.
• Pilbara Minerals has signed a preliminary non-binding Memorandum of Understanding (MoU) with Polaris Shipping to initiate further discussions in relation to its JV participation in the chemical facilities, raw material supply agreements and product off-take agreements respectively.
Australian lithium developer, Pilbara Minerals Limited (ASX: PLS) (“Pilbara Minerals” or “the Company”) is pleased to announce that it has signed a non-binding MoU with Polaris Shipping to commence preliminary discussions with Polaris Shipping and LG Chem in relation to a potential joint venture for a downstream lithium chemical conversion facility servicing South Korea’s rapidly growing lithium-ion battery industry.
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