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UPDATE 3-Vulcan s German unit signs to sell lithium to South Korea s LG Chem Reuters 11 hrs ago
(Adds quotes from head of German ops)
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By Melanie Burton and Ilona Wissenbach
MELBOURNE, Australia, July 19 (Reuters) - Australia-listed lithium miner Vulcan Energy Resources said on Monday it had signed a long-term deal to sell lithium hydroxide from its German project to the battery unit of South Korea s LG Chem .
Vulcan, which will extract lithium from geothermal brine via its 1.7 billion euro ($1.4 billion) project, said the five-year deal could be renewed for five more years. The contract is expected to be finalised by the end of November.
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MELBOURNE, Australia (Reuters) -Australia-listed lithium miner Vulcan Energy Resources said on Monday it had signed a long-term deal to sell lithium hydroxide from its German project to the battery unit of South Korea’s LG Chem.
Vulcan, which will extract lithium from geothermal brine via its 1.7 billion euro ($1.4 billion) project, said the five-year deal could be renewed for five more years. The contract is expected to be finalised by the end of November.
Vulcan’s process for extracting lithium, a key ingredient for electric vehicle batteries, will produce renewable power and emit no carbon dioxide, unlike Australia’s hard rock lithium mining. The water will also be recycled, unlike the evaporation technique used in arid areas of South America.
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