Lepidico - Binding offtake signed with Traxys
On 16 December, Lepidico announced a binding offtake agreement with world-renowned metal trader Traxys for 100% of its lithium hydroxide production for seven years (or 35,000t of LiOH) from its Phase 1 project. The agreement accommodates Lepidico’s marketing strategy of supplying both battery supply chain and industrial market customers in that it also allows the company to agree the sale of lithium chemicals to independent third parties, with Traxys administering any such sales by means of a back-to-back contract. It also contemplates a US supply nexus to support the debt funding envisaged under Lepidico’s formal mandate with the US International Development Finance Corporation (DFC).Lepidico is engaged in mineral exploration and the development and licensing of L-Max® technology. Co.'s lithium portfolio of exploration and commercial ventures include the Lemare project in Canada; the Euriowie project near Broken Hill in New South Wales, Australia; Third Element Metals Pty Ltd, a joint venture in Brazil; a joint venture in Argentina; and L-Max® licence arrangements with Lithium Australia Ltd. and European Metals Holdings Limited. Co. also retains its interest in the East Pilbara Polymetallic project, which is located in the East Pilbara region of Western Australia. The L-Max® process allows the extraction and recovery of lithium from lithium bearing micas.
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