LKE towards TOP-5, page-4645

Lithium company Lake Resources signs offtake agreement with FordBy Jackson GrahamLake Resources has announced an offtake proposal with Ford to sell lithium to the carmaker from a project in Argentina for use in electric vehicles.The company’s share price rose more than 10 per cent on Monday morning following the announcement, which involves Ford receiving about 25,000 tonnes per annum of lithium from Lake Resource’s Kachi Project as part of a non-binding memorandum of understanding.Ford is already unveiling a range of e-vehicles including its latest Mustang.CREDIT:APLake Resources managing director Steve Promnitz said there was an ability to scale up environmentally responsible production and both companies saw an opportunity for a long-term agreement.Ford EV industrialisation vice president Lisa Drake said the agreement was one of several the carmaker was exploring to help secure raw materials as it aggressively pursues the EV market.“Ford is sourcing deeper into the battery supply chain,” Drake said.Lake’s chair Stu Crow said financing was increasingly becoming connected with a supplier’s environmental social and governance criteria, as investors, off-takers and customers demand new lithium