Galaxy extends offtake contract

Lithium miner Galaxy Resources has extended its existing offtake agreement with Yahua International Investment and Development Co by a further three years until the end of 2025.

Yahua has an offtake for 120 000 t/y of high quality spodumene concentrate from Galaxy’s Mt Cattlin operation, in Western Australia, between 2021 and 2025, and has agreed to purchase a further 30 000 t of spodumene concentrate for the remainder of 2020.

Pricing of the spodumene shipments sold up until the end of 2022 will be agreed between the parties on a spot cargo basis.

Galaxy told shareholders on Monday that the extended offtake arrangement with Yahua supplemented the company’s existing spodumene concentrate offtake agreements, including 55 000 t/y from Meiwa Corporation until the end of December 2022, and 45 000 t/y from Yi Chun Yi Li New Energy Co in 2020, and a further 60 000 t/y in 2021 and 2022.