Offtake partners secured for US gigafactory - Magnis
PERTH (miningweekly.com) – ASX-listed Magnis Resources has reported that a binding sales agreement has been inked for 40% of the planned production from a planned lithium-ion gigafactory, in New York.
Magnis is part of a global consortium which is developing a 15 GWh lithium-ion battery plant in the US. The company is to supply the anode materials and technologies for the plant, while the cathode materials and technology, and the manufacturing processes to produce electrodes and battery cells, will be handled by the consortium partners.
Magnis said on Wednesday that the binding sales agreement was signed with a number of groups, for terms ranging from three years to five years. The majority of the customers are based in the US, Asia and the Middle East, and have been engaged with the consortium during the year towards building a sustainable supply chain for the production of lithium-ion batteries.
First production from the factory is expected in 2019.
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