(Adds details of supply deal)
March 23 (Reuters) - Australia's Core Lithium Ltd said on Thursday it agreed to sell additional spodumene
concentrate to Chinese chemicals firm Sichuan Yahua Industrial
Group Co Ltd , a supplier to the electric vehicle
(EV) battery industry.
Demand for spodumene, or lithium ore, from the EV battery
industry is expected to boom this decade as the green energy
transition gains momentum. Sichuan Yahua produces lithium salts,
which has applications in EV batteries.
Sichuan Yahua, an existing customer of Core Lithium, will
buy 18,500 tonnes of spodumene concentrate, in addition to its
prior deal to purchase 300,000 tonnes over four years.
Core Lithium agreed to sell the first spodumene concentrate,
a 3,500-tonne parcel, produced at its Finniss project in
Northern Territory, as well as an additional 15,000 tonnes.
Sichuan Yahua will pre-pay 80% of the consideration for the
15,000-tonne shipment, which Core Lithium says will help boost
cash flows as it continues to ramp up its operations.
(Reporting by Harshita Swaminathan and Ayushman Ojha; Editing
by Savio D'Souza and Subhranshu Sahu)
Ayushman.Ojha@thomsonreuters.com))
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