LG Energy Solution secures US lithium supply for ten years
LG Energy Solution has signed a binding take-or-pay contract with Smackover Lithium for 80,000 tonnes of battery-grade lithium carbonate over ten years, with deliveries starting in 2029. Smackover Lithium is a joint venture between Standard Lithium (55%) and Equinor (45%). The contract covers 8,000 tonnes per year, more than a third of the project's planned first-phase capacity of 22,500 tonnes per year.
Why it matters: This agreement supports the theme of supply-chain security by localising LGES's North American lithium sourcing, reducing reliance on foreign entities.