Kidman secures Mitsui offtake

KIDMAN Resources has entered into a binding offtake heads of agreement with Japan’s Mitsui & Co over lithium hydroxide production from its Mt Hollands project in WA.

The agreement is for an initial two-year term with the option for a two-year extension, and would equate to less than 15 per cent of Kidman’s share of nameplate production.

The agreement followed Kidman’s deal with Tesla back in May, and according to Kidman was “further evidence of the demand for the high-quality lithium hydroxide”.

“Kidman continues to progress its strategy of entering into a limited number of significant offtake agreements to develop long term customer relationships,” Kidman Resources chief executive Martin Donohue said.