Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
Trump pushes ‘Big, Beautiful Bill’ as solution to...
Trump’s fresh White House portrait sparks interest amid...
South Koreans cast votes for new president to...
Puerto Rico permits nonbinary gender marker on birth...
Still a no: Rand Paul says $5T debt...
LIZ PEEK: Trump must stay strong, US reliance...
Trump DOJ investigating Biden-era pardons amid concerns over...
FBI calls for public tips on children hurt...
Challenges posed by Trump and Putin push UK...
Edward Sterck: Platinum Price on the Move, Perfect...
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

Investing

Lithium Universe LtdSpodumene Offtake Update

by admin June 2, 2025
June 2, 2025
Lithium Universe LtdSpodumene Offtake Update

Melbourne, Australia (ABN Newswire) – Lithium Universe Limited (ASX:LU7) (FRA:KU00) (OTCMKTS:LUVSF) is pleased to provide an update of its project development since the launch of the Becancour Lithium Refinery Definitive Feasibility Study in February 2025. The Board and management continue to advance the project by attempting to secure spodumene feedstock supply for its Becancour Lithium Refinery.

Highlights

– Discussions with multiple spodumene concentrate producers-both operational and near-term developers

– Substantial benefits (transport costs and tariffs) to supplying local convertor

– Supply estimated to commence around 2028

– Targeting 140,000 tpa SC6 spodumene supply once ramped up

– LU7 intends to purchase spodumene ore at benchmark prices from the market

– Targeting minimum supply of 10 years for project finance

The Company, as stated previously, have been in discussions with multiple spodumene concentrate producers-both operational and near-term developers-regarding long-term feedstock supply agreements for the Becancour Lithium Refinery. In these discussions, these parties recognise a real benefit in potentially supplying their spodumene product to a local lithium converter as opposed to shipping and selling their spodumene to Chinese operations for conversion. The spodumene transport costs could be as high as US$100 per dmt which represents US$800-900 per tonne of finished lithium carbonate product. If the final lithium carbonate must be shipped back to North America that adds another approximately US$200 per tonne of final product. Today, Canada has an import tariff of 25% on all Chinese lithium chemicals so the local conversion is an overriding advantage.

In these discussions, the Company is targeting a non-binding MoU for the full supply of 140,000 tonnes per annum for SC6 grade spodumene material. The target tonnes will proportionally increase if the grade is less than 6% LiO2. The supply agreement could be converted to a definitive agreement when the refinery becomes

funded, and construction commences. Ideally, LU7 is targeting a spodumene feed supply to be at least 10 years and rolling 5 years, to give security of supply for project financing. In these discussions, the Company is targeting supply commencing around 2028 at approximately 56,000 tonnes per year. The required supply tonnage will increase to 98,000 tonnes in 2029 and reach full capacity at 140,000 tonnes per annum from 2030 onward. The spodumene supply is targeted to be delivered to the Becancour Lithium Refinery storage shed on site. Whilst spodumene supply could be from anywhere in the North Atlantic region (including Brazil and Africa), a strategic domestic Canadian feedstock source would mitigate the Company’s risks and logistical challenges of overseas shipments and foreign processing. It is proposed that the spodumene concentrate will be refined into approximately 18,270 tonnes per annum of battery-grade lithium carbonate (as per DFS), supporting the expansion of Canada’s electric vehicle (EV) and energy storage industries.

LU7 intends to purchase spodumene ore at benchmark prices from the market, and LU7 will retain full ownership of the resulting lithium carbonate, with the right to sell it either to the open market at benchmark prices or directly to an OEM offtaker. To clarify, the Company is not searching for a tolling arrangement.

Executive Chairman Iggy Tan said ‘There are several interested potential spodumene suppliers that could meet the 2028 timeframe and discussions are ongoing. There is real interest in the market. The Company will continue to keep the market informed concerning progress of these discussions and negotiations. Once we can secure feedstock supply for the refinery the focus will shift to getting a strategic OEM on board the project in exchange for the valuable battery grade lithium carbonate offtake’.

About Lithium Universe Ltd:  

Lithium Universe Ltd (ASX:LU7) (FRA:KU00) (OTCMKTS:LUVSF), headed by industry trail blazer, Iggy Tan, and the Lithium Universe team has a proven track record of fast-tracking lithium projects, demonstrated by the successful development of the Mt Cattlin spodumene project for Galaxy Resources Limited.

Instead of exploring for the sake of exploration, Lithium Universe’s mission is to quickly obtain a resource and construct a spodumene-producing mine in Quebec, Canada. Unlike many other Lithium exploration companies, Lithium Universe possesses the essential expertise and skills to develop and construct profitable projects.

Source:
Lithium Universe Ltd

Contact:
Alex Hanly
Chief Executive Officer
Lithium Universe Limited
Tel: +61 448 418 725
Email: info@lithiumuniverse.com

Iggy Tan
Chairman
Lithium Universe Limited
Email: info@lithiumuniverse.com

News Provided by ABN Newswire via QuoteMedia

This post appeared first on investingnews.com

previous post
Cardiex Receives TGA Approval for CONNEQT Pulse Device
next post
‘Red tape’: Trump admin unleashes DOGE-aligned process to fire federal workers for misconduct

You may also like

CNN Fear and Greed Index Plunges to Extreme...

March 5, 2025

Lode Gold Updates US OTC Market Symbol to...

January 10, 2025

Bitcoin Well Announces Nostr Integration; Including Bitcoin Purchases...

May 27, 2025

SAGA Metals Provides In-Depth Summary of Radar Titanium-Vanadium...

January 16, 2025

How Would a New BRICS Currency Affect the...

January 7, 2025

Noble Minerals Announces Update to Drilling Results from...

December 11, 2024

Awalé Hits Multiple High-Grade Intercepts, including 3.3 g/t...

September 9, 2024

Biden Administration Proposes Ban on Chinese Vehicles, Citing...

September 26, 2024

Mark These Tax-loss Selling Dates on Your Calendar...

October 1, 2024

Charbone Hydrogene annonce une croissance de son chiffre...

November 29, 2024

Recent Posts

  • Trump pushes ‘Big, Beautiful Bill’ as solution to four years of Biden failures: ‘Largest tax cut, EVER’
  • Trump’s fresh White House portrait sparks interest amid controversy over National Portrait Gallery leadership
  • South Koreans cast votes for new president to succeed Yoon after his ouster over martial law declaration
  • Puerto Rico permits nonbinary gender marker on birth certificates in landmark court decision
  • Still a no: Rand Paul says $5T debt increase in ‘Big, Beautiful Bill’ a deal-breaker

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (753)
    • Investing (2,237)
    • Politics (2,766)
    • Stock (4)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 Sightful Invest. All Rights Reserved.