LEWISVILLE, Arkansas — Smackover Lithium has signed its second commercial offtake agreement for its Lafayette County lithium production facility, meaning that it has secured sufficient backing to proceed with project financing and a final investment decision.
The agreement is with LG Energy Solution. LG Energy Solution is a leading manufacturer of lithium-ion batteries for energy storage systems and electric vehicles.
Smackover Lithium is a partnership between Standard Lithium Ltd. through its subsidiaries, and Equinor, through subsidiaries of Equinor ASA.
Under the terms of this binding take-or-pay offtake Agreement, Smackover Lithium’s South West Arkansas Project will supply LG Energy Solution with 8,000 metric tonnes per year of battery-quality lithium carbonate over a 10-year period following the start of commercial production.
Pricing and other key commercial terms are subject to confidentiality but are structured to support anticipated financing for the project.
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