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Lithium Universe Limited (ASX:LU7)

ALERT: Price-sensitive ASX Announcement for LU7
Current share price for LU7 : $0.004 -0.002 (-33.33%)+
Announcement
Release
15 Jul 2026 9:22AM
Price at Release
$0.006
Full Release
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Summary
Lithium Universe Limited (LU7) has signed a binding 10-year Definitive Offtake Agreement with Norah Mining Limited (NML) for the supply of up to 80,000 tonnes per annum of spodumene concentrate from Nigeria. The agreement includes a strategic pricing model linked to the Shanghai Metals Market SC6 benchmark, including a 7.5% discount. LU7 plans to leverage this agreement to engage in third-party spodumene trading prior to the construction of its North American lithium refinery. This strategy aims to create early revenue opportunities and secure long-term customer relationships. Construction of NML's spodumene concentrator is progressing, with completion expected in the second half of 2026. The agreement enhances LU7's position in the global lithium value chain and ensures feedstock security for its future refining operations.
Key Points
  • Binding 10-year offtake agreement with Norah Mining Limited.
  • Supply of up to 80,000 tonnes per annum of spodumene concentrate.
  • Pricing linked to Shanghai Metals Market SC6 benchmark with a 7.5% discount.
  • Plans for third-party spodumene trading prior to refinery construction.
  • Construction of NML's concentrator expected to complete in the second half of 2026.
  • Enhancement of LU7's position in the global lithium value chain.
  • Ensures feedstock security for future refining operations.
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.