Binding Agreement concluded with Mangrove Lithium
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| Stock | Elevra Lithium Ltd (ELV.ASX) |
|---|---|
| Release Time | 21 Aug 2026, 8:03 a.m. |
| Price Sensitive | Yes |
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Elevra Completes Binding Agreement with Mangrove Lithium
Key Points
- Binding Agreement for spodumene concentrate supply
- Initial term of 7 years with an option to renew
- Market-linked pricing with downside protection
- Supports development of a Canadian lithium supply chain
Full Summary
Elevra Lithium Limited (ASX:ELV; NASDAQ:ELVR) has concluded a binding agreement with Mangrove Lithium for the long-term supply of spodumene concentrate from its North American Lithium facility in Quebec. The agreement, which follows a non-binding MoU, includes an initial term of seven years and a potential renewal for another seven years. The contract will supply Mangrove's proposed 20,000-tonne per annum lithium conversion facility in Eastern Canada. The agreement includes a floor price above Elevra's cost of production and no price ceiling, providing potential upside. The agreement also avoids seaborne freight costs by supplying a local customer.
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