LG Chem and ExxonMobil sign MOU for lithium offtake
Exxon Mobil Corporation (XOM)
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Source: Business Wire
Offtake agreement for up to 100,000 tons of lithium carbonateAims to strengthen the U.S. critical mineral supply chainContributes to domestic energy security, manufacturing, jobs and emission reductionsLithium production contingent on supportive regulatory frameworks, among other factors SPRING, Texas & SEOUL, South Korea--(BUSINESS WIRE)--Exxon Mobil Corporation (NYSE: XOM) and LG Chem have signed a non-binding memorandum of understanding (MOU) for a multiyear offtake agreement for up to 100,000 metric tons of lithium carbonate. The lithium will be supplied from ExxonMobil’s planned project in the U.S. to LG Chem’s cathode plant in Tennessee, which LG Chem expects to be the largest of its kind in the U.S.“America needs secure domestic supply of critical minerals like lithium,” said Dan Ammann, president of ExxonMobil Low Carbon Solutions. “ExxonMobil is proud to lead the way in establishing domestic lithium production, creating jobs, driving economic growth, and enhancing energy s
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