Tuesday, November 30, 2021

Umicore signs supply deal with Ganfeng & Vulcan Energy - electrive.com - www.electrive.com

Last updated Monday, October 18, 2021 08:00 ET , Source: NewsService

Materials technology and recycling group Umicore has signed long-term lithium supply agreements with Ganfeng Lithium and Vulcan Energy Resources. Both contracts have an initial term of five years and can be extended by mutual agreement.

The agreement with the Chinese group Ganfeng Lithium covers the supply of lithium from 2022 and will, according to Umicore, “cover a significant part of the future lithium demand in Asia”. The lithium will be mined from hard rock deposits in Australia under the strictest sustainability standards. The Belgian battery material supplier does not provide any details on the delivery volume. Ganfeng also supplies BMW and Volkswagen, among others, through multi-year contracts. But that is only in passing.

The contract between Umicore and the German-Australian company Vulcan Energy, based in Karlsruhe, does not provide for the supply of lithium until 2025. The supply relationship is intended to cover parts of Umicore’s future lithium hydroxide needs in Europe. During the five-year contract period, the Belgian company intends to purchase between 28,000 and 42,000 tonnes of the material. Vulcan Energy, or more precisely the German subsidiary Vulkan Energie Ressourcen GmbH, wants to extract lithium in the Upper Rhine region. A central processing plant for the lithium is to be built in Frankfurt Höchst.

Umicore says that both agreements ensure additional sustainable and regional supply of lithium “to meet the growing demand for cathode materials from...

Read Full Story: https://www.electrive.com/2021/10/18/umicore-signs-supply-deal-with-ganfeng-vulcan-energy/

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