https://thewest.com.au/business/mining/liontown-resources-secures...

https://thewest.com.au/business/mining/liontown-resources-secures-ramp-up-offtake-deal-with-beijing-sinomine-international-trade-c-15355749

Liontown Resources secures ramp-up offtake deal with Beijing Sinomine International TradeHeadshot of Daniel NewellDaniel NewellThe West AustralianMon, 15 July 2024 5:26AMCommentsDaniel NewellLiontown's Kathleen Valley projectLiontown's Kathleen Valley project Credit: Supplied/TheWestOne-time market darling Liontown Resources has secured another offtake agreement as the lithium explorer closes in on first production from its flagship Kathleen Valley project in the northern Goldfields.The deal will supply Beijing Sinomine International Trade with up to 100,000 dry tonnes of spodumene concentrate over 10 months from the end of September as Kathleen Valley ramps up output volumes.Liontown already has long-term offtake contracts with Tesla, LG EnergySolution and Ford, which will being over the next 12 months as it starts processing to initial nameplate capacity of 3 million tonnes a year.“Securing a near-term offtake with an established lithium refiner to sell initial volumes over the ramp-up period, de-risks sales during our ramp-up of the plant towards nameplate capacity,” managing director Tony Ottaviano said.“This complements our existing long-term offtakes, which we will progressively bring into effect over the next 12 months as we increase production towards nameplate to support our offtake commitments.”Liontown is due to make the milestone shift from explorer to producer in coming weeks.Sierra Rutile's Area 1 operation in Sierra Leone.MiningBidding war brewing for Sierra RutileAdrian RausoEarlier this month, the Tim Goyder-chaired company switched out $550 million worth of bank and government debt for a $379m funding deal with battery maker and offtake partner LG Energy, lured by more competitive interest rates and flexibility.It means Liontown will back out of the debt syndicate pulled together in March with Commonwealth Bank, National Australia Bank, France’s Societe Generale and taxpayer-funded agency, Export Finance Australia.Liontown had been due to provide its partnered banks with an updated mine plan and lithium price forecasts — tipped to stay in the doldrums for the foreseeable future — to show it could support a long-term financing package by the end of July.