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November 20, 2023
Galan Lithium (ASX:GLN) has signed a binding offtake agreement with Glencore (LON:GLEN) for up to 100 percent of the lithium to be produced at its Hombre Muerto West project in Argentina, according to an article published in The West Australian.
Glencore also offered to finance the first phase of the HMW project development, which is expected to produce 5,400 tonnes of lithium carbonate equivalent (LCE) in lithium chloride concentrate per year.
The agreement is a confirmation of Galan’s low-cost, low-risk lithium chloride development strategy anticipating HMW production by the first half of 2025. The company commenced construction of Phase 1 of the project in September 2023 and remains on track for the first pond fill in Q1-2024.
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GLN:AU
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