Pilbara Minerals Expands Offtake Agreement with Ganfeng Lithium Group
Amendment to Existing Agreement
Australian lithium producer Pilbara Minerals has announced an amendment to its existing offtake agreement with Ganfeng Lithium Group and its subsidiary, significantly increasing the supply of spodumene concentrate. This amendment enhances the short and medium-term supply to Ganfeng, a leading lithium chemical converter.
Details of the Revised Supply Terms
The original agreement, established in 2017, involved Pilbara Minerals supplying 160,000 tonnes per annum (ktpa) of spodumene concentrate from its Pilgangoora Operation. The amendment stipulates the following revised supply terms:
- For calendar year 2024 (CY24), Pilbara Minerals will supply an additional 150kt of spodumene concentrate, bringing the total to 310kt.
- For calendar year 2025 (CY25), the supply will increase by an additional 100kt, with an option to increase to 150kt, resulting in a total supply of 260kt - 310kt.
- For calendar year 2026 (CY26), the supply terms are similar to CY25, with an additional 100kt, and an option for 150kt, totaling 260kt - 310kt.
Pricing and Market Alignment
In line with the existing agreement, all spodumene concentrate volumes will be sold based on the prevailing market price at the time of sale.
