Ganfeng joins Altura as Shaanxi reduces order

ONE of the world’s largest global battery materials producers, Hong Kong’s Ganfeng Lithium, has expanded its purchasing of Pilbara lithium by tying up a new offtake agreement with Altura Mining, which will soften the blow of a reduction in demand from Altura’s foundation offtaker Shaanxi J&R Optimum Energy.

Ganfeng joins Altura as Shaanxi reduces order Ganfeng joins Altura as Shaanxi reduces order Ganfeng joins Altura as Shaanxi reduces order Ganfeng joins Altura as Shaanxi reduces order Ganfeng joins Altura as Shaanxi reduces order
The binding agreement with Ganfeng is expected to begin before the end of the year with at least 8000 tonnes expected to ship, expanding to a minimum of 70,000tpa from 2019 until the end of 2021 with potential extensions for up to 10 years.
 
The terms of its agreement mirror those with Shaanxi J&R and Lionenergy with a price floor of US$550/t and a ceiling of $950/t for 6% grade spodumene concentrate until the end of 2020.
 
Ganfeng will also make a pre-payment for 2019 deliveries of A$11 million.
 
The Altura deal adds to Ganfeng's 160,000tpa offtake agreement from Pilbara's Pilgangoora's phase one. Ganfeng is also a major shareholder in Pilbara and a likely buyer of concentrate from Pilbar...