Seoul – – October 07, 2026 -- LG Energy Solution has signed a binding multi-year offtake agreement with Elevra Lithium for 240,000 dry metric tonnes of spodumene concentrate over four years, sourced from an already operational Canadian mine.
Supply Begins This Year From Quebec's NAL Project
Shipments will start later in 2026 from Elevra's North American Lithium (NAL) facility in Quebec, Canada, a producing asset rather than a development-stage project. This gives LG Energy Solution immediate access to a feedstock source without exposure to construction or ramp-up delays common in new mining projects.
Deal Diversifies Raw Material Base Beyond Carbonate and Hydroxide
Spodumene concentrate adds a third raw material stream to LG Energy Solution's existing reliance on lithium carbonate and lithium hydroxide. As an intermediate feedstock convertible into either downstream chemical, the material gives the battery maker added flexibility to shift production allocation between electric vehicle and energy storage system (ESS) output as demand conditions change.
Agreement Reinforces North American ESS Buildout
LG Energy Solution currently operates five standalone and joint-venture facilities across North America to serve rising ESS demand, which it is targeting with LFP-based battery solutions. The Quebec supply line links directly to its regional manufacturing footprint, including NextStar Energy's Windsor, Ontario plant, which began production last year following more than CAD 5 billion in investment and is expected to generate up to 2,500 direct jobs at full capacity.
Elevra Gains Committed Customer While Retaining Price Exposure
For Elevra Lithium, the contract locks in a buyer for a meaningful share of NAL's output while the company retains exposure to spodumene concentrate market pricing. Chief Executive Officer Lucas Dow said the deal advances the commercial strategy outlined with Elevra's FY26 annual results and strengthens NAL's position as the company pursues expansion plans and a diversified customer base. Elevra also holds projects in Quebec, the United States, and a joint venture in Western Australia.
LG Energy Solution Cites Supply Chain Resilience Gains
Kang Yeol Lee, Procurement Center Leader at LG Energy Solution, said the agreement strengthens the company's North American raw material supply chain and supports faster, larger-scale response to regional customer demand. The deal ties battery cell production more closely to a domestic mining source, reducing dependence on longer international supply routes for a critical input.