Australia's Lake Resources said on Wednesday it had signed a deal with South Korean battery maker SK On Co Ltd to supply lithium from its flagship Kachi project in Argentina.
The logo of SK Innovation is seen in front of its headquarters in Seoul, South Korea, February 3, 2017. REUTERS/Kim Hong-Jisaid on Wednesday it had signed a deal with South Korean battery maker SK On Co Ltd to supply lithium from its flagship Kachi project in Argentina., will acquire a 10% stake in New South Wales-based lithium developer Lake Resources as part of the agreement. SK Innovation is a part of South Korea's second-largest conglomerate SK Group.
Automobile and battery makers have been signing deals with Australian miners for supply of lithium, a key ingredient in electric vehicle batteries, amid a global push towards cleaner sources of energy.Lake Resources said it would supply 25,000 tonnes per annum of lithium to SK On under the five-year deal, which could be extended for another five years.
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