Lithium Universe Ltd Offtake Partner Update
Key points
- Norah Mining Limited provides progress update on spodumene concentrator
- Binding 10-year offtake agreement for up to 80,000 tonnes per annum of spodumene concentrate
- Potential interim trading opportunity before refinery construction
Full summary
Lithium Universe Limited (ASX: LU7) has provided an update on the construction progress of its binding spodumene offtake partner, Norah Mining Limited (NML). NML is constructing a 120,000 tpa spodumene concentrator in south-west Nigeria. The company has provided updated construction photographs showing installation of major process equipment, structural steel, tanks and supporting infrastructure. LU7 signed a binding 10-year Definitive Offtake Agreement with NML in February 2026 for the supply of spodumene concentrate from NML in Nigeria. Under the agreement, NML will supply up to 80,000 tonnes per annum of spodumene concentrate grading 6.0% Li2O, with supply targeted to commence in late 2026. The agreement provides LU7 with the flexibility to market and sell material where refinery capacity is not yet available, creating a potential interim commercial opportunity while advancing the Company's downstream strategy.
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