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Birimian enters off-take deal for spodumene concentrate from Bougouni

Birimian Ltd. entered an off-take agreement with a Chinese lithium battery manufacturer to supply the lower of either 200,000 tonnes per annum or 25% of total annual production of over 6% spodumene concentrate.

Under the memorandum of understanding with Far East First New Energy Co., a subsidiary of Far East Smarter Energy Co. Ltd., the companies will cooperate on the development of Birimian's Bougouni lithium project in Mali as well as for project financing.

The company noted in its Dec. 20 statement that phase-two drilling is underway at Bougoni, focused on extending and upgrading resources.

Birimian previously entered an MOU in late October with Chinese commodity trader Tongdow Group, covering multiple transactions such as off-take, mine development and partnership to achieve spot market pricing of its lithium products.