LG Energy Solution has reached an agreement with Green Technology Metals (GT1) to establish a supply chain of critical raw materials for batteries in North America. LG Energy Solution will subscribe to $20m worth of new shares in GT1 and buy 25% of GT1’s spodumene concentrate production for five years. Spodumene concentrate is a source of lithium, a vital mineral in battery-making. GT1 is currently exploring and developing lithium resources in Ontario, Canada, and its Seymour Project is expected to yield 10 million metric tons of lithium-enriched spodumene. This agreement will help LG Energy Solution expand its supply chain in North America, especially as a reliable supply of critical minerals, including lithium, is essential in delivering its power solutions to customers. Additionally, GT1 will benefit from the collaboration with LG Energy Solution, which brings global scale and expertise in battery manufacturing.

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By hassani

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