LG Energy inks supply contracts with three Canadian mining companies

LG Energy Solution has sourcing agreements for lithium and cobalt with three Canadian mining companies in order to extend its operations in North America.

The deals, according to the Tesla (NASDAQ:TSLA) supplier, are part of an effort to expand mid- to long-term supply contracts with North American mines and processors.

LG stated that Electra, Avalon, and Snowlake will supply 7,000 tonnes of cobalt sulfate over the course of three years beginning in 2023, 55,000 tonnes of lithium hydroxide over the course of five years beginning in 2025, and 200,000 tonnes over the course of ten years.