Prospect Resources

AVZ Minerals has secured a second strategic, long-term offtake partner with Shenzhen Chengxin Lithium Group.

The binding offtake agreement regards the supply of spodumene concentrate (SC6) from the Manono Lithium and Tin Project.

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

AVZ’s MD, Nigel Ferguson, says:

“We are pleased to conclude our discussions with Chengxin and to sign our second lithium offtake agreement.”

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“This agreement takes offtake commitments to more than 50% of the Manono Project’s initial saleable SC6 production, which is a massive endorsement for our project.”

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“We are well advanced with our other offtake discussions, not only for our lithium products but also for our tin and tantalum materials. These will be pursued diligently over the coming weeks and I look forward to updating the market once these agreements are finalised.”