Kidman to supply lithium hydroxide to Tesla

Company News

by Rachael Jones

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.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.