LAC:CC - SQM LG Energy unveil new long-term supply deal for refined lithium products

2023-07-06 14:53:08 ET

Sociedad Quimica y Minera de Chile ( NYSE: SQM ) said Thursday it reached a new long-term purchase agreement to supply more than 100K metric tons of battery-grade lithium carbonate and lithium hydroxide to LG Energy through 2029.

LG Energy said its trust in SQM ( SQM ) is "based on the company's long and successful track record in recent years in effectively tripling its production of refined lithium chemicals with the smallest environmental footprint in the industry."

But SQM ( SQM ) -3% , with lithium miners ( LIT ) trading broadly lower following a much stronger than expected ADP Employment Change Report for June, which triggered a jump in U.S. Treasury yields: Lithium Americas ( LAC ) -3% , Livent ( LTHM ) -2.9% , Albemarle ( ALB ) -1.4% .

More on SQM:

• Financial and valuation comparison to sector peers
• Analysis: SQM: Capitalize On The Bureaucratic Chilean Government
• Stock price return: Down 3% YTD, down 10% in the past 12 months

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