Fangyuan Recycling signs annual lithium carbonate supply agreements
2024-11-21 13:43:59 [Print]
Jiangmen Fangyuan Recycling Technology Co., Ltd., a wholly-owned subsidiary of Guangdong Fangyuan New Materials Group Co., Ltd., has entered into an agreement to supply no less than 10,000 tonnes of battery grade lithium carbonate to Zhejiang Merchants Zhongtuo (Zhejiang) New Energy Technology Co., Ltd. from January 1 to December 31, 2025.
Fangyuan Recycling also reached an annual supply agreement with Xiamen Xiangyu New Energy Co., Ltd. Under the agreement, Fangyuan Recycling will supply 15,000 (±10%) tonnes of battery grade lithium carbonate to Xiangyu New Energy from January 1 to December 31, 2025, during which Xiangyu New Energy will provide Fangyuan Recycling with lithium, nickle and cobalt raw materials, including but not limited to lepidolite and spodumene.
The estimated contract value for the deals with Zhongtuo New Energy and Xiangyu New Energy is respectively RMB820 million (USD113 million) and RMB1,353 million (USD186 million).
Fangyuan Recycling also reached an annual supply agreement with Xiamen Xiangyu New Energy Co., Ltd. Under the agreement, Fangyuan Recycling will supply 15,000 (±10%) tonnes of battery grade lithium carbonate to Xiangyu New Energy from January 1 to December 31, 2025, during which Xiangyu New Energy will provide Fangyuan Recycling with lithium, nickle and cobalt raw materials, including but not limited to lepidolite and spodumene.
The estimated contract value for the deals with Zhongtuo New Energy and Xiangyu New Energy is respectively RMB820 million (USD113 million) and RMB1,353 million (USD186 million).
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Unit:RMB/mt
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