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Stardust Power signs lithium supply deal with Charge CCCV
['Amanda Stutt']
MINING.COM
Image: Adobe StockUS lithium developer Stardust Power (NASDAQ: SDST) announced Wednesday it has entered into a non- binding Letter of Intent with battery technology company Charge CCCV LLC, (CV4) for the supply of battery-grade lithium carbonate from Stardust Power’s lithium refinery in Muskogee, Oklahoma to support C4V’s battery manufacturing joint ventures in the US.
C4V provided a preliminary lithium carbonate demand forecast showing a phased approach for the potential offtake of 3,000 MT in 2028; 10,000 MT in 2029 and 20,000 MT by 2030.
In February, the refiner inked a deal to supply Japan’s Sumitomo Corporation with at least 20,000 tonnes of lithium carbonate a year when its refinery in Oklahoma enters production.
In June, Stardust Power was selected for a US Department of Energy-funded research program to develop next-generation electrochemical technology for the extraction of lithium from waste.
Stardust Power stock closed the day down 8.5% on the Nasdaq.