Elevra Lithium Signs Binding Spodumene Concentrate Supply Deal With Mangrove Lithium
Elevra Lithium (ELVR) said Friday it signed a binding agreement to supply spodumene concentrate to Mangrove Lithium from its Quebec facility.The initial seven-year contract includes a seven-year renewal option and requires the delivery of 122,000 dry metric tonnes of material in the first year, followed by 144,000 tonnes annually, the company said.The purchase price will be tied to market rates and includes a minimum price limit without a maximum cap, Elevra said.The deal remains contingent on Mangrove securing project financing and reaching a final investment decision by the end of 2028 to build its proposed processing plant in Eastern Canada, it said.Shares of Elevra were up 8.7% in early Friday trading.Price: $66.90, Change: $+5.34, Percent Change: +8.67%
