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Altura and Kennedy can sign at least 100,000 tons of lithium ore underwriting agreement each year

2017-07-11 09:01
Source: Australia and China Finance Online
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REVIEW: Altura Mining Ltd. on July 10 announced the signing of the underwriting agreement with binding and China Shaanxi battery manufacturers can firm Revell Co., Ltd., and under this new agreement, the revision of existing and Lionergy Ltd. Underwriting agreement.
OFweek lithium Reuters Altura Mining Limited (ASX: AJM) on July 10 announced the signing of the underwriting agreement with binding and China Shaanxi battery manufacturers can firm Revell Co., Ltd., and under this new agreement, now revised And some underwriting agreements with Lionergy Limited (China's large lithium metal and battery material manufacturer).
Altura joins the Walmart Innovation Alliance
According to the announcement, the smooth signing of the agreement for the Altura flagship project Pilgangoora lithium mine project to provide support for the smooth progress. At the same time, also for the project investors and potential financing side to increase confidence.
Altura said that the alliance with partners also gave birth to a good idea, that is, with the important lithium battery manufacturers to form a complete lithium carbonate and lithium hydroxide conversion capacity of the supply chain solutions.
"Wormet Innovation Alliance" (Lionergy is also one of the members of the alliance) is designed to provide a variety of materials and products for the electric car (EV), large electric vehicle and storage device market. Today, Altura will also be an important upstream supplier to this alliance.
According to the announcement, Lionergy is vigorously promoting the design and construction of lithium carbonate and lithium hydroxide production plants dedicated to sweeping Pilgangoora project initial production of spodumene. In line with Altura's first output, the new plant will be operational in the second quarter of 2018.
At the same time, according to the requirements of partners, Altura will begin the Pilgangoora lithium project for the initial second phase of the expansion plan. The goal is to meet the partner's growth plan, the annual output increased to 450,000 tons.
Altura said the entire project financing program will be completed in the next few weeks. Altura Mining Co., Ltd. is a leading supplier of lithium raw materials and has a world-class Pilgangoora project and is ready to become the first new supplier of hard rock products in 2018. The company also has an experienced internal team dedicated to the Pilgangoora project for production.
The two companies jointly swept 200,000 tons of production
According to reports, public information, Shaanxi Kennedy Rui Wengeng Co., Ltd. in 2010 listed on the Shenzhen Stock Exchange, the current market value of 29.1 billion yuan (about 5.6 billion Australian dollars), is a set of fire product development, production, sales and service as one high-tech enterprises. In 2016, Kennedy Ruiwo can fully acquire Shenzhen Watersma, into the new energy automotive industry, mainly for electric vehicles, large electric vehicles and static storage device market to provide lithium battery system. 2017 years. Kennyruver fulfills at least seven major battery supply contracts worth about Rmb3.3bn (A $ 2bn), producing 10.34 million units of battery.
According to the announcement, Altura Mining and Kennedy Rui Weng signed a binding underwriting agreement important terms:
Kenny Riverson can underwrite at least 100,000 tons of dalt (tmt) lithium oxide content of 6% of spodumene concentrate. Among them, the first batch of products will be sold before June 30, 2018.
The minimum period for binding underwriting agreements is 5 years.
The condition is that Altura will receive the project financing by August 31, 2017 (or Altura may have told Kennedy to date).
The first three years of the price of 6% spodumene concentrate FOB price range of 550-950 dollars per dry ton.
Any additional spodumene concentrate will be purchased by Kennedy Rui Wo, and any excess of Lionergy purchased amount of spodumene concentrate will also be purchased by Kennedy.
Altura Mining and Lionergy signed a revised binding underwriting agreement Important terms:
1) Lionergy underwrites at least 100,000 tonnes per ton (dmt) of 6% spodumene concentrate, and the first products will be available by June 30, 2018.
2) The minimum term of the underwriting agreement is 5 years.
3) The competitive underwriting agreement for a sparbite concentrate with a grade of 6% stipulates that the first three years FOB ranges from $ 550 to $ 950 per tonne.