Lake Resources finds offtake partner at Kachi

Lithium developer Lake Resources has reached a conditional framework agreement (CFA) with commodity supply solution provider WMC Energy over the potential offtake of up to 25 000 t/y of battery grade lithium from the Kachi project, in Argentina, and a potential 10% stake in Lake.

Under the terms of the proposed agreement, WMC would undertake a 10% investment in Lake priced at A$1.20 a share, to support the development of the Kachi project, and would take up to 50% of the project’s annual lithium production, or up to 25 000 t/y of lithium carbonate.