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Elevra Lithium Limited (ASX:ELV)

ALERT: Price-sensitive ASX Announcement for ELV
Current share price for ELV : $8.300 -0.42 (-4.82%)+
Announcement
Release
21 Aug 2026 8:03AM
Price at Release
$8.720
Full Release
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Summary
Elevra Lithium Limited has finalized a binding agreement with Mangrove Lithium for the long-term supply of spodumene concentrate produced at North American Lithium in Québec. This agreement follows a previously announced non-binding MoU and represents a significant step for both companies in establishing a domestic lithium supply chain in Canada. The agreement includes a seven-year term with a renewal option, subject to Mangrove securing project financing and achieving commercial operations. The pricing terms provide Elevra with a price floor while retaining exposure to potential future market price increases. The arrangement is supported by the Canada Growth Fund, highlighting the Canadian government's commitment to a secure domestic lithium supply chain.
Key Points
  • Binding agreement concluded between Elevra Lithium Limited and Mangrove Lithium.
  • The agreement covers long-term spodumene concentrate supply from North American Lithium in Québec.
  • Initial seven-year term with an option for renewal.
  • Pricing includes a floor price with no ceiling, allowing market price exposure.
  • Support received from Canada Growth Fund, affirming government backing for a domestic lithium supply chain.
  • The agreement replaces a previous non-binding MoU.
  • Mangrove's conversion facility planned for Eastern Canada to use proprietary refining technology.
  • Agreement helps avoid international shipping costs, supporting margins.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.