Suzhou TA&A Ultra Clean Technology Co. Ltd of China announced on Wednesday a subsidiary that obtains raw materials for lithium batteries has agreed to buy at least 200,000 tonnes of lithium concentrate from Brazil over five years.
Suzhou TA&A told the Shenzhen Stock Exchange in writing that its subsidiary, Yibin Tianyi Lithium Industry Co. Ltd, will buy the lithium concentrate from AMG Brasil SA, a subsidiary of AMG Advanced Metallurgical Group NV.
Suzhou TA&A said AMG Brasil intended to increase its output of lithium concentrate by up to 45 percent.
Yibin Tianyi will make a downpayment by March 31, Suzhou TA&A told the stock market.
Separately, AMG announced in writing that the downpayment will fund the expansion of the AMG Brasil facility to increase its output of lithium concentrate by 40,000 tonnes a year.