Yes and no. While 99.5% is widely recognised as the benchmark for battery grade, it isn't the only consideration. For instance, Lithium Argentina (LAAC) have been ramping up their Cauchari-Olaroz project and produced 6000 tonnes of >99.5% grade lithium carbonate in the second half of 2023. However, they noted that this product was technical grade, not battery grade, despite meeting the benchmark purity spec of 99.5%.
As many have previously mentioned, long-term agreements typically require particular specifications, and it's unclear whether AGY have met the required specs for any potential offtake partners. There has never been an announcement that indicates that AGY has had a shipment of lithium carbonate successfully qualified by any customer that it has engaged with.
I should stress that I'm not saying this is the problem; I'm just suggesting it could be one of several issues potentially hindering AGY from securing an offtake. I believe it's the least likely issue, with the most probable reason being that JZ simply waited too long for the "best deal" and mistimed the market.
AGY Price at posting:
8.2¢ Sentiment: None Disclosure: Not Held
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