South Korea continues resource push with Lithium One deal

摘要

South Korea's urgency to secure critical raw materials for its hi-tech industries was exemplified again last month after Korea Resources Corp. (Kores) struck an offtake deal with development company, Lithium One Inc. Kores will purchase up to 30% of battery grade lithium carbonate extracted from Lithium One's Sal de Vida brine project in Argentina's Salar de Hombre Muerto with the option of a further 20%. In return, Lithium One will receive funding of up to 15m dollars. to produce a definitive feasibility study for the project. There is also a possibility of the two companies coming to a regional marketing deal, Lithium One's chief executive officer told IM.