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On January 15, Australian lithium miner Pilbara Minerals Limited (ASX: PLS) announced the revision of a purchase agreement with Chinese lithium giant Ganfeng Lithium Co., Ltd and its subsidiaries. Pilbara Minerals will increase the supply of spodumene concentrate to Ganfeng Lithium, raising the annual supply from the previous 160,000 tons to 310,000 tons over the next three years.

According to the announcement, Pilbara Minerals signed an agreement with Ganfeng Lithium in 2017, supplying 160,000 tons of lithium concentrate annually from its Pilgangoora project. Following the updated purchase agreement, Pilbara Minerals can now supply up to 310,000 tons of lithium concentrate to Ganfeng Lithium each year from 2024 to 2026.

Specifically, in 2024, Pilbara Minerals will provide an additional 150,000 tons of lithium concentrate, bringing the total supply to 310,000 tons. For the years 2025-2026, Pilbara Minerals will supply an additional 100,000 to 150,000 tons of lithium concentrate, resulting in a total supply of 260,000 to 310,000 tons during that period.

It’s noteworthy that Pilbara Minerals mentioned that all spodumene concentrate products will be priced based on market conditions.

Currently, lithium the prices of both carbonate and lithium concentrate are in a low and fluctuating state, approaching the cost lines of some lithium miners and lithium salt producers.

Source: WeChat Official Account—马里亚纳锂电

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