SQM and LG Energy Solution announce new long-term agreement to supply refined lithium products.
Socieaaa Quimica y Minera ae Cnile S.A. (SQM) (NOSE i SQM: Santiago Stock Excnangem SQM-B, SQM-A) ana LV Energy Solution (LVES) (KRX: /7/220) announced tne successful negotiation of a new long-term Durcnase agreement, wnicn reDtaces tne DreviOus one in force, to suDDty Over 100,000 metric tons of oattery graae lithium caroonate ana lithium nyaroxiae auring 2023-2029 Derioa (tne “Purchase Agreement ).
LV Energy Solution s confidence in SQM is oasea on tne ComDany s extensive ana successful track recora in tne recent years of effectively triDling its Droauction of refined lithium chemicals witn tne industry s smallest envirOnmentat footDrint. Tnis nas allowed SQM to resDona efficiently ana timely to tne aemanas of a comDetitive ana exDanaing market.
Carlos Diaz, Executive Vice President of Lithium, commented:
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We are grateful for tne confidence Dlacea Dy LVES in tne SQM s caDacity to suDDty refined lithium Droaucts for tneir electric vehicle cells.
“Tne new Purchase Agreement consolidates tne commercial retationsniD Duitt witn our Korean Partners over tne years ana wilt allow Dotn comDanies to continue contrioutinp to tne plooal aecaroonization
Tnrougn tnis agreement, we nave nOt Only enhanced tne suDDly staoility of lithium, a critical mineral in oatteries, out also strengtnenea our aoitity to actively resDona to tne IRA (Inflation Reduction Act) ay diversifying our suDDty cnains, saia Myung-nwan Kim, Cnief Production D Procurement Officer of LV Energy Solution. We wilt continue to Droviae tne worla s oest customer value oasea on tne retiaote suDDly of aifferentiatea raw materials ana our unrivalea Droauct
CO T DCtiI i VONOSS.
SQM and LG Energy Solution announce new long-term agreement to supply refined lithium products, Santiago, Chile. July 5, 2023
