Study Group registered a surplus of 17,100 metric tons in May 2023.

The Australian company aims to become one of the world’s lowest cost producers of lithium hydroxide, and says it is the most strategically located to serve the North American EV supply chain.

The idea about the powder is part of a program to address low inventory levels and boost liquidity in electronic trading.

Piedmont said it will provide a further $70 million toward the Ewoyaa development capital to acquire a total 50% stake.

The Adelaide-based miner and Tesla failed to clinch a pact after nearly seven months of negotiations last year.

The factory in Quebec will eventually produce 45,000 tonnes of cathode active materials per year.