Australia’s Galan signs lithium supply deal with Glencore

Miner Galan Lithium said on Thursday it has signed a five-year agreement with a Glencore unit for supply of lithium chloride concentrate from Galan’s Hombre Muerto West project in Argentina.

Glencore has also offered to provide a financing prepayment facility between $70 million and $100 million to support funding of phase 1 of the project, according to Galan.

The supply agreement will start once commercial production begins at phase 1 of the Argentina project, which is expected in the first half of 2025.

Glencore will have the first right to negotiate for marketing and financing regarding future expansion of phase 2 of the Hombre Muerto West project, Galan said.

(By Shivangi Lahiri; Editing by Shounak Dasgupta)