LG Energy Solution Secures Multi-Year Supply of Canadian Spodumene Concentrate from Elevra
The deal gives LG Energy Solution 240,000 metric tons of feedstock from an operational Canadian mine and supports its North American battery supply chain.
- On Thursday, LG Energy Solution Ltd. signed a long-term agreement with Australian company Elevra Lithium to secure 240,000 metric tons of spodumene concentrate from its Canadian mine over four years, starting later this year.
- The spodumene concentrate originates from Elevra's operational North American Lithium project in Quebec, Canada, allowing LG Energy to diversify raw material sourcing beyond lithium carbonate and lithium hydroxide.
- Growing demand for energy storage systems drives this expansion, with LG Energy planning to reach over 50 gigawatt-hours of production capacity in North America by December across three wholly owned and two joint venture plants.
- Lee Kang-yeol, procurement center leader of LG Energy Solution, stated, "This agreement marks another important step in strengthening our raw material supply chain." The deal reinforces regional value chains.
- Supporting the commercial strategy from FY26, Lucas Dow, Chief Executive Officer and Managing Director of Elevra Lithium, noted the deal provides a committed customer for NAL production, aligning with LG Energy's carbon neutrality goals.
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Elevra Lithium Signs Spodumene Supply Agreement with LG Energy Solution
BRISBANE, Australia, Oct. 08, 2026 (GLOBE NEWSWIRE) -- North American lithium producer Elevra Lithium Limited (“Elevra”) (ASX:ELV; NASDAQ:ELVR) is pleased to announce that it has executed a binding Spodumene Concentrate Supply Agreement (the “Agreement”) with LG Energy Solution for the…
LG Energy Solution posted a profit in the third quarter of this year, even excluding the tax credit effect under the U.S. Inflation Reduction Act (IRA). Amid the continued sluggishness in the battery market due to slowing EV demand, increased shipments of Energy Storage Systems (ESS) in North America and improved operating rates at EV battery factories are driving the rebound in performance.
LG Energy Solution recorded its highest-ever quarterly revenue of 9.6434 trillion won, driven by the expansion of its North American ESS business and the recovery of the European electric vehicle market. Increased tax credits under the Inflation Reduction Act and battery purchase compensation from clients had a positive impact on performance.
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LG Energy Solution Secures Multi-Year Supply of Canadian Spodumene Concentrate from Elevra
240,000 dry metric tonnes of spodumene concentrate to be supplied from operational Canadian mine over four yearsLocal supply supports growing North American ESS demand and strengthens regional value chainsSecuring spodumene concentrate enhances raw material flexibility across EV and ESS markets
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