LG Energy Solution agrees to buy battery-grade lithium from Smackover Lithium in Smackover, Arkansas, according to multiple reports. The arrangement is described as a long-term supply deal for a key raw material used in lithium-ion batteries.
Details reported by outlets indicate the contract runs for 10 years and follows a “take-or-pay” structure. LG Energy Solution is set to purchase 8,000 tonnes per year of lithium carbonate, with deliveries scheduled to begin in 2029. The product is described as battery-grade lithium carbonate.
Smackover Lithium is identified as a joint venture that is 45% owned by Norway’s Equinor, which is state-controlled. One outlet also notes that LG signed a similar lithium offtake agreement with Vulcan Energy in Germany in January 2022, with deliveries expected to start later, providing additional context for LG’s broader efforts to secure supply for battery production.
