Ann: Response to Speculation, page-1317

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Battery manufacturers are increasingly pushing for longer lithium contracts in a bid to secure supply, according to one of the biggest producers of Australian lithium products.
The observation from Albemarle, which owns 49 per cent of the lithium-rich Greenbushes spodumene mine in Western Australia, came as the New York listed company indicated first production on its $400 million lithium hydroxide plant in WA may come a year later than previously expected.
Addressing investors, Albemarle's lithium president John Mitchell said a desire to offer ten-year warranties on lithium-ion batteries was driving some manufacturers to seek a guaranteed sources of raw materials for similar periods.
"We had moved our customer base to three to five year agreements and now we see a strong pull from the leading providers of batteries and cathodes to go to as long as ten year agreements and the rationale for that is really around security of supply," he said in recent days.

"Not just security of supply of that type of molecule but security of supply of an [electric vehicle] grade that meets those specification for our battery that they can make a ten year warranty on."

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