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America",{"slug":576,"name":577},"usa","USA",[579],{"slug":580,"name":581,"content":582},"didi-bostock","Didi Bostock",{"job_title":583,"image":584,"bio":586,"linkedin":587},"Editor - Energy Transition & Economics",{"filename":585},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":589,"content":590},"doc",[591,598,611,616,621,626,644,651,662,675,685,690,695,700,705],{"type":592,"attrs":593,"content":594},"paragraph",{"textAlign":49},[595],{"text":596,"type":597},"LG Chem has signed a non-binding offtake agreement with ExxonMobil for up to 100,000 tonnes of lithium carbonate per year. This is potentially Exxon’s full annual production.","text",{"type":592,"attrs":599,"content":600},{"textAlign":49},[601,609],{"text":602,"type":597,"marks":603},"Exxon will supply lithium carbonate",[604],{"type":605,"attrs":606},"link",{"href":607,"uuid":49,"anchor":49,"target":49,"linktype":608},"https://source.benchmarkminerals.com/article/exxon-aiming-for-multiple-lithium-projects-this-decade?_branch_match_id=1544410878732025840&utm_source=facebook&utm_medium=share&_branch_referrer=H4sIAAAAAAAAA8soKSkottLXT0rNS87ITSzKzs3MSy1KzCnWSywo0MvJzMvWD650rkyrCEr38k%2ByrytKTUstKsrMS49PKsovL04tsnXOKMrPTQUAHRnX0EgAAAA%3D","url",{"text":610,"type":597}," from its planned direct lithium extraction (DLE) project in the US to LG Chem’s cathode production facility under construction in Tennessee.",{"type":592,"attrs":612,"content":613},{"textAlign":49},[614],{"text":615,"type":597},"LG Chem’s Tennessee plant due to produce high-nickel cathode material is one of several cathode plants planned for the US, though the country’s cathode supply is still forecast to fall short of its domestic demand.",{"type":592,"attrs":617,"content":618},{"textAlign":49},[619],{"text":620,"type":597},"“The US cathode market is still in a stage of infancy,” said Harry Tinker, a cathode analyst at Benchmark. “This deal provides some level of domestic supply chain security, as well as a major commitment to the US market.”",{"type":592,"attrs":622,"content":623},{"textAlign":49},[624],{"text":625,"type":597},"Exxon signed a similarly sized non-binding offtake agreement for its lithium with SK On. The South Korean company has a joint venture with Eco Pro developing a precursor plant in Canada.",{"type":592,"attrs":627,"content":628},{"textAlign":49},[629,635,637,642],{"text":630,"type":597,"marks":631},"LG Chem invested $75 million into Piedmont Lithium",[632],{"type":605,"attrs":633},{"href":634,"uuid":49,"anchor":49,"target":49,"linktype":608},"https://www.benchmarkminerals.com/",{"text":636,"type":597}," earlier in the year to secure lithium. LG Chem has also signed an offtake agreement downstream with ",{"text":638,"type":597,"marks":639},"GM",[640],{"type":605,"attrs":641},{"href":634,"uuid":49,"anchor":49,"target":49,"linktype":608},{"text":643,"type":597},".",{"type":645,"attrs":646,"content":648},"heading",{"level":647,"textAlign":49},4,[649],{"text":650,"type":597},"How important is direct lithium extraction for the US?",{"type":592,"attrs":652,"content":653},{"textAlign":49},[654,660],{"text":655,"type":597,"marks":656},"Direct Lithium Extraction",[657],{"type":605,"attrs":658},{"href":659,"uuid":49,"anchor":49,"target":49,"linktype":608},"https://source.benchmarkminerals.com/article/rise-of-dle-will-open-up-new-sources-of-lithium-supply-this-decade?_branch_match_id=1544410902616544369&utm_source=facebook&utm_medium=share&_branch_referrer=H4sIAAAAAAAAA8soKSkottLXT0rNS87ITSzKzs3MSy1KzCnWSywo0MvJzMvWNykrjsiLDEr38k%2ByrytKTUstKsrMS49PKsovL04tsnXOKMrPTQUARthgR0gAAAA%3D",{"text":661,"type":597}," allows for lithium extraction from sources otherwise inaccessible by traditional methods and has the potential to be a more sustainable source of lithium.",{"type":592,"attrs":663,"content":664},{"textAlign":49},[665,667,673],{"text":666,"type":597},"Exxon is developing its DLE project in the ",{"text":668,"type":597,"marks":669},"Smackover formation",[670],{"type":605,"attrs":671},{"href":672,"uuid":49,"anchor":49,"target":49,"linktype":608},"https://source.benchmarkminerals.com/article/equinor-takes-stake-in-standard-lithium-smackover-direct-lithium-extraction-projects?_branch_match_id=1544410886276824422&utm_source=facebook&utm_medium=share&_branch_referrer=H4sIAAAAAAAAA8soKSkottLXT0rNS87ITSzKzs3MSy1KzCnWSywo0MvJzMvWd3bKDcjIC0738k%2ByrytKTUstKsrMS49PKsovL04tsnXOKMrPTQUAQOPJ10gAAAA%3D",{"text":674,"type":597}," in Arkansas, US.",{"type":592,"attrs":676,"content":677},{"textAlign":49},[678,683],{"text":679,"type":597,"marks":680},"DLE is expected to play a major role",[681],{"type":605,"attrs":682},{"href":659,"uuid":49,"anchor":49,"target":49,"linktype":608},{"text":684,"type":597}," in the development of the US’ lithium industry.",{"type":592,"attrs":686,"content":687},{"textAlign":49},[688],{"text":689,"type":597},"“Given that we expect the US to be in a domestic lithium deficit, DLE can enable the US to bolster their domestic supply chain,” said Claudia Cook, a lithium analyst at Benchmark.",{"type":645,"attrs":691,"content":692},{"level":647,"textAlign":49},[693],{"text":694,"type":597},"Where does LG Chem fit in the US cathode industry?",{"type":592,"attrs":696,"content":697},{"textAlign":49},[698],{"text":699,"type":597},"The company broke ground on its cathode plant in Clarksville, Tennessee in December 2023 and recently began construction proper earlier this year. Benchmark’s Verified service confirms construction has begun at the site.",{"type":592,"attrs":701,"content":702},{"textAlign":49},[703],{"text":704,"type":597},"Of note is that this deal is for lithium carbonate, despite high nickel cathode chemistries of the sort LG Chem’s plant is set to produce usually requiring lithium hydroxide as the feedstock material.",{"type":706,"attrs":707},"blok",{"id":708,"body":709},"2acc7c2b-31e5-4306-8f3d-e5cb41dd0d4d",[710],{"id":711,"_uid":712,"type":713,"_editable":714,"component":715,"fixed_height":716,"use_fixed_height":50,"fixed_height_mobile":716,"fixed_height_tablet":716},"20415081","i-a8015b95-9cd6-4e77-be0d-5a5f57bbcbd0","visualisation","\u003C!--#storyblok#{\"name\": \"ContentFlourish\", \"space\": \"\", \"uid\": \"i-a8015b95-9cd6-4e77-be0d-5a5f57bbcbd0\", \"id\": \"\"}-->","ContentFlourish","","LG Chem has signed a non-binding offtake agreement with ExxonMobil for up to 100,000 tonnes of lithium carbonate per year. This is potentially Exxon’s full annual production. Exxon will supply lithium carbonate from its planned direct lithium extraction (DLE) project in the US to LG Chem’s cathode production facility under construction in Tennessee. LG Chem’s […]",[719],{"slug":580,"name":581,"content":720},{"job_title":583,"image":721,"bio":586,"linkedin":587},{"filename":585},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"c3fcad84-2705-4c27-b24f-9a41e8a830ca\", \"id\": \"\"}-->","article",[725,728,730,733],{"slug":726,"name":727},"batteries","Batteries",{"slug":729,"name":299},"cathode",{"slug":731,"name":732},"critical-minerals","Critical Minerals",{"slug":734,"name":8},"lithium","private",{"id":49,"alt":716,"name":716,"focus":716,"title":716,"source":716,"filename":737,"copyright":716,"fieldtype":738,"meta_data":739,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/f1de774bf9/bm-image-11.png","asset",{"alt":716,"title":716,"source":716,"copyright":716},"Nov 22, 2024","22nd November 2024",[],[],1792773893710]