Lithium developer Kidman Resources (ASX:KDR) has entered a binding agreement to provide lithium hydroxide to electric vehicle company Tesla.
The 3-year fixed-price take-or-pay agreement has two 3-year term options.
Kidman is a manufacturer of battery-grade refined lithium.
In addition to the Agreement with Tesla, Kidman is in discussions with other strategic, globally significant parties also seeking refined lithium offtake.
To date, expressions of interest from these parties have materially exceeded Kidman’s portion of initial refinery nameplate production.
Shares in Kidman Resources (ASX:KDR) closed flat at $2.16 yesterday.