LG Energy Solutions signs nickel and cobalt supply agreement with Australian mining company
Release time：2024-09-18click：0
Gasgoo News According to foreign media reports, South Korean company LG Energy Solutions has signed a six-year cobalt and nickel supply agreement with an Australian mining company to ensure a stable supply of key raw materials for electric vehicle batteries. Subject to mutual agreement, the two companies can extend the term of this cooperation for another five years.
Starting from the end of 2024, LG Energy Solutions will purchase 71,000 tons of nickel and 7,000 tons of cobalt from Australian Mines Limited. These raw materials are enough to produce batteries for 1.3 million electric vehicles, with an average range of 310 miles (about 498 kilometers) per vehicle.
Jong-hyun Kim, CEO of LG Energy Solutions, said in a statement: "As global demand for electric vehicles has increased in recent years, the need to secure key raw materials and build responsible The battery supply chain has become a key factor in gaining greater control within the industry."
The raw materials will come from Australian Mining Ltd.'s $1.5 billion Sconi project in Queensland. This project is currently under development. The Sconi project will use "dry stacking" to store filtered tailings, an alternative and more environmentally friendly method of managing waste from mining sites. Compared to dumping tailings into local water sources or burying them in underground quarries, dry stacking removes water from the waste, leaving behind a sandy material that can be safely stored in a management facility.
LG Energy Solutions said in a statement: “While the dry stacking method is more expensive than traditional methods due to construction and maintenance costs, it is an environmentally friendly method. Raw material extraction method. ”
LG Energy Solutions is a subsidiary of LG Chem, one of the world’s largest manufacturers of batteries and battery materials. Its customers include Volkswagen, General Motors and Special Purpose. Tesla and other car manufacturers. The company predicts that the global battery market will continue to expand in the next few years, from 39 trillion won ($34 billion) in 2021 to 100 trillion won ($87 billion) in 2026.
(Original title: LG Energy Solutions signs nickel and cobalt supply agreement with Australian mining company)
