AVZ Minerals (ASX:AVZ) signs agreement with a major Chinese lithium converter

Company News

by Rachael Jones

AVZ Minerals (ASX:AVZ) has secured a second strategic, long-term offtake partner with Shenzhen Chengxin Lithium Group Co.,Ltd.

Chengxin agree to purchase up to 180,000 tonnes per annum of spodumene concentrate for an initial 3-year term.

Chengxin is a leading global battery materials producer that is continuing to expand its lithium hydroxide production capacity.

Over 50 per cent of the intended annual spodumene saleable product from the Manono Project is now contracted under binding Offtake Agreements.

Shares in AVZ Minerals (ASX:AVZ) are trading 7.5 per cent higher at 21 cents.