Ann: Binding offtake agreement signed with LG Energy Solution, page-60

Not sure to many scrolled to the last pages of the ann.
Below is the release from LG themselves.

FOR IMMEDIATE RELEASELG Energy Solution to have 6-year access to nickel, cobalt from Australian Mines amid heated competition over raw materials ■ LG Energy Solution secures 71,000 tonnes of nickel and 7,000 tonnes of cobalt for stable supply of key battery materials■ Secured key raw materials to power 1.3 million high-performance EVs ■ LGES to raise competitiveness in ESG management by procuring raw materialsusing the most sustainable methodSEOUL, August 16, 2021 – LG Energy Solution has secured 100% rights to battery-grade nickel and cobalt materials from Australian Mines Limited amid growing concerns about future supplies of raw materials.LG Energy Solution announced Monday it has entered into a binding long form offtake agreement with Australian Mines Ltd. for nickel and cobalt, which will be supplied in the form of mixed hydroxide precipitate (MPH) from the Sconi Project in North Queensland.Under the binding long form offtake agreement between LG Energy Solution and Australian Mines Ltd, the battery manufacturer will have access to 71,000 tonnes of nickel and 7,000 tonnes of cobalt for 6 years starting from the end of 2024. The six-year supply deal would translate to producing batteries that can power 1.3 million high-performance electric vehicles, with driving range surpassing 500 kilometers on a single charge. The offtake agreement states that LG Energy Solution purchase EV battery materials from Australian Mines’ flagship Sconi Project based in Queensland, currently under development.Valued at USD 1.5 billion, the Sconi Project is a nickel and cobalt mine, capable of creating quality battery materials and boost battery supply chain. Cooperation with Australian Mines Ltd. will also help LG Energy Solution gain an upper hand in securing stable supply of key ingredients for EV batteries, as race to procure raw materials for EV batteries b
ecame fierce amid growing global demand of EVs. LG Energy Solution opts to also raise its competitiveness in ESG management in the process of acquiring raw materials. During the mining procedure, Australian Mines Ltd. will be using the dry stacking method, known as a sustainable method used to store filtered tailings. Although more costly, compared to the conventional method due to construction and maintenance expenses, the dry stackingmethod is deemed an environmentally friendly way to extract raw materials.