Nemaska Lithium Inc. signed a deal with Hanwa Co. Ltd., acting as an agent on behalf of General Lithium Corp., for the supply of spodumene concentrate from the Whabouchi lithium mine in Quebec.
Under the terms, Nemaska will supply a significant quantity of spodumene concentrate on a take-or-pay basis at a market priced-based formula at the time of delivery.
The supply period will begin after the construction of the Whabouchi mine and will continue up to the full ramp-up of the Shawinigan electrochemical plant.
Nemaska said May 29 that it decided to sell spodumene concentrate given that Whabouchi will be in production about a year before the plant is ready to be commissioned. The sales during that time will help the company generate revenue by the end of 2019.
