Business
TVL First Feedstock Deal
TVL First Feedstock Deal.
About this update from Alkemy Capital Investments Plc
[{"type":"text","content":"\n\n \n \n13 November 2023\n \nAlkemy Capital Investments Plc\n \nTees Valley Lithium Feedstock Agreement\n \n \nAlkemy Capital Investments plc (\"Alkemy\") (ALK:LSE) (JV2:FRA) is delighted to announce that its wholly-owned subsidiary Tees Valley Lithium Limited (\"TVL\") has entered into a lithium supply heads of terms agreement with international trading house Wogen Resources Ltd (\"Wogen\").\nThe agreement will secure lithium feedstock for the first train of TVL's proposed merchant refinery which will be located at the Wilton International Chemical Park in the Teesside Freeport, UK.\n \nHIGHLIGHTS:\n· Agreement in principle reached with international trading house Wogen for supply of technical grade lithium carbonate to Tees Valley Lithium's merchant refinery.\n \n· Wogen to supply up to 20,000 tonnes annually, sufficient to fill the first train at Wilton for an initial period of five years.\n \n· The price of the lithium carbonate feedstock will be negotiated periodically based on market conditions.\n \n· Strong interest expected from potential offtake customers following independent verification by internationally recognised cathode active material manufacturer of TVL's ultra-pure battery-grade lithium products.\n \n· Discussions continue with a number of potential feedstock and offtake customers with further agreements expected in due course.\n \n· The Wilton refinery is planned to be in full production in 2026 and will generate over 1,000 local jobs for the UK.\n \n \n \nLithium feedstock secured for first of four proposed trains\nTVL is establishing a merchant lithium refinery at Wilton International Chemical Park in the Teesside Freeport for the conversion of technical grade lithium carbonate and lithium sulphate into battery grade lithium hydroxide and carbonate products.\nWogen is a leading international trader of off-exchange specialty metals and minerals, with a long history and well established presence in the battery metals market across Asia, United States and Europe. Wogen has an active trading book in lithium products procuring from an array of producing countries and selling into the battery supply chain.\nTVL and Wogen have enter...