Livent will resume lithium carbonate contract talks with Nemaska
Lithium producer Livent will resume arbitration talks concerning the lithium carbonate supply contract it has signed with junior miner Nemaska Lithium, the producer said on Monday February 18.
The move follows the Canadian miner’s announcement on February 18 that it intended to terminate the multi-year supply agreement with Livent, formerly part of FMC.
Under the multi-year agreement, Nemaska would supply 8,000 tonnes per year of lithium carbonate to Livent starting on April 1, 2019, to a total of 28,000 tonnes of lithium carbonate over the course of the agreed years.
Livent will resume arbitration with the intention of pursuing its claim, it said, adding that Nemaska does not have the right to terminate the agreement and that Livent intends to enforce its rights as part of a process begun in July 2018.
The arbitration process was previously suspended to allow negotiation of a revised schedule and other agreements for the supply of lithium carbonate.
Nemaska recently announced that it will need an additional $282 million to start production of lithium carbonate and hydroxide, scheduled for the second half of 2020.