Vulcan inks binding lithium offtake agreement with Umicore

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!

(Kitco News) - Europe-focused lithiumdeveloper Vulcan Energy (ASX:VUL) announced yesterday that the company hassecured a new binding lithium hydroxide offtake agreement with?EUR?Umicore, as partof its Zero Carbon?EUR?Lithium?,,? project.

The company said that Umicorewill be a direct consumer of its lithium hydroxide products, purchasing aminimum of 28,000 tonnes and a maximum of 42,000 tonnes of battery gradelithium hydroxide over the duration of the agreement.

This represents approximately20% of the company's current planned output over the period, Vulcan noted.

"Umicore is a leader incathode materials production used in lithium-ion batteries for electrifiedtransportation, and our partnership means we will supply leading automakerswith our unique, zero carbon product," the company said in its statement.

Vulcan added it is aiming tobecome the world's first lithium producer with net zero greenhouse gasemissions. Its Zero Carbon Lithium?,,? project intends to produce abattery-quality lithium hydroxide chemical product from its combined geothermalenergy and lithium resource, which is Europe's largest lithium resource, inGermany.

By Vladimir Basov

For Kitco News

Follow kitconewsnow vbasov@kitco.comwww.kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

Silver inventories rebound in UK, output from major producers rises

Silver's three-month outperformance continues

Silver & Copper Supply Distortions Continue

Gold stocks down in risk-on shift

Gold stocks rocket on metal rebound and equities jump