17
Feb
15:07
Piedmont Lithium, LG Chem sign investment, offtake agreements
Piedmont Lithium and LG Chem have signed equity investment and binding offtake agreements, Kallanish reports.
South Korea-based LG Chem will purchase about 1.01 million newly issued shares of Piedmont common stock at $68.40/share for a total of $75m. Closing is scheduled for 24 February. That will result in LC Chem holding 5.7% of Piedmont common shares.
LG Chem is also contracting for 50,000 tonnes/year of high-purity spodumene concentrate (SC6) for four years f…
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