Belgium-based battery-materials manufacturer Umicore has reached a multi-year supply agreement with South Korean battery maker LG Chem for nickel-cobalt-manganese (NCM) cathode materials, Umicore said on Monday September 23.
Under the agreement, Umicore will supply LG Chem with a total of 125,000 tonnes of NCM cathode materials over several years, starting from 2020. The companies did not reveal the value of the deal. Most of the volume covered by the agreement will be supplied by Umicore's...