Australian lithium miner Altura has signed an offtake agreement with China’s Shandong Ruifu for the supply of 6% spodumene concentrate and terminated an existing arrangement with Shaanxi J&R Optimum Energy, or JRO, it said Tuesday. The binding offtake agreement with Shandong Ruifu is for a minimum of 35,000 dry mt/year and is to begin this month and last until June 2024, Altura said. A first shipment of 8,000 dmt is scheduled for later this month and there is to be a minimum shipment of 24,000 dmt for the balance of 2019. The terms of the agreement are for a minimum price of $550/dmt FOB equivalent and maximum of $950/dmt, based on Li20 content of 6% per dmt, it said.
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