Two Chinese companies have signed long-term agreements with Australian companies. And this was done almost at the same time. Thus, the Chinese company will receive a lithium concentrate from Australia. The concentrate will be used for the production of lithium compounds. The latter is used in the production of batteries for electric vehicles. In addition, there are consumers in the field of manufacturers of telecommunications equipment.
From Great Wall Motors signed an additional agreement with Pilbara Minerals. The first company has been manufacturing cars in China. The second — Australian, carries out production of lithium concentrate at the mine Pilgangoora. It is located in the state of Western Australia. Pilbara Minerals supplies products of Great Wall Motors from 2017. Every year it supplies 75 thousand tons of lithium concentrate. New contract signed with enterprises for the next six years. Thanks to him the volume of annual deliveries will increase by 20 thousand tons. For the second quarter production capacity of the Pilbara was 62.3 thousand tons. It is expected that the figure will grow by the fourth quarter. It should be 65−80 thousand tons of concentrate. Also, the company plans to cooperate with Posco. It offers together to build a plant in South Korea. It will be a factory producing lithium hydroxide. Its capacity will be 40 thousand tons per year.
The Pilgangoora Deposit is developing another company Altura Mining. She signed a contract with the Chinese company Shandong If. According to the document the company will deliver annually 35 thousand tons. We are talking about a concentrate containing 6% lithium oxide. The contract was signed for six years.