According to foreign media reports, Kidman (Kidman Resources Ltd.) has signed a memorandum of understanding with LG Chem and agreed that Kidman will supply LG Chemical with 12,000 tons / year of lithium hydroxide within ten years.
It is reported that the two are working to implement a binding strategic supply agreement by July 31 next year. This time, the products agreed in the memorandum of understanding signed by Kidman and LG Chemical Company accounted for about 50% of the lithium hydroxide produced by Kidman, or 22,600 tons per year.
Kidman, full name Kidman Resources Ltd. Is a lithium battery developer. Kidman is currently working with Chilean SQM to develop the Mount Holland Hard Rock Lithium Project in Western Australia. At the same time, Kidman is also building a plant that will process lithium into battery-grade materials, and construction is expected to begin in 2021.
Tesla, the American electric car giant, has also signed a three-year fixed-price lithium supply agreement with Kidman, starting at the start of the Kidman project in Western Australia.
At the same time, just in October this year, Kidman said in a statement that the company will cooperate with Chile SQM to build the Mt. Holland lithium mine and build a lithium hydroxide refinery in Western Australia. In the next 47 years, the total revenue of the project will reach $ 33.5 billion. The project is expected to produce an average of 45,254 tons of lithium hydroxide per year (including C1 cash costs), excluding government royalties and emergency costs, at $ 4,487 per ton.