South Korea lithium-ion battery cell manufacturer SK On Thursday, September 29, the company signed a two-year nonbonding agreement with Australia-based Global Lithium Resources. Both companies will work on producing pedantic components for batteries harnessed in electric cars.
The two companies have admitted to taking globetrotting in developing downdraft battery-grade lithium materials in Western Australia for at least two years. To broaden the support and under the roof of the agreement, SK On also vowed to deploy its troops to upsurge the capital for future adventures. The company also decided to invest in Global Lithium’s drilling projects.
As for the drilling factories, the company has chosen to work within the Pilbara region and in the Goldfields–Esperance region of Western Australia to produce lithium from minerals to reciprocate the favor of obtaining opportunities.
The projected volume of lithium supplied by Global Lithium to SK On is yet to be unveiled. In addition, Global Lithium signed a 10-year lithium supply deal with China-based Suzhou TA&A Ultra Clean Technology, which is utterly cast to cleanroom and electrostatic discharge control machines. The agreement had been signed six months before making a deal with SK On. Further, Suzhou TA&A owns merely a 10 percent stake in Global Lithium.
Australia-based mining company Global Lithium was established in 2018. The company has bagged 18.4 megatons of 1.06 per cent-graded lithium oxide across two lithium assets.
Korean-based battery maker SK On is the largest manufacturer in Korea, albeit it is a newcomer to the business. The company runs machines in the US, China, Hungary, and Korea.