Overview
- The companies announced Thursday a binding agreement for Elevra to deliver 240,000 dry metric tonnes of spodumene concentrate to LG over four years, with shipments to start later in 2026.
- LG says the raw concentrate can be processed into lithium carbonate or hydroxide, giving the company flexibility to shift production between EV batteries and energy storage system (ESS) cells.
- LG reported record third‑quarter revenue and is racing to exceed 50 GWh of North American LFP cell capacity by December to meet growing ESS demand at its plants in Michigan and the NextStar facility in Ontario.
- Elevra says the contract gives North American Lithium (NAL) a committed customer for a meaningful share of output while keeping Elevra exposed to market pricing for spodumene.
- The companies note the volume is roughly equivalent to about 30,000 tonnes of lithium hydroxide — a company estimate used to illustrate scale — and LG points to NextStar’s roughly CAD 5 billion backing and up to 2,500 direct jobs when fully ramped.