Australian lithium developer Lake Resources has this morning released news of an offtake proposal for approximately 25,000 tonnes per annum (tpa) of lithium from the Kachi Project in a non-binding agreement with Ford Motor Company.
This strategic collaboration between Ford and Lake is set to sit alongside the collaboration with Hanwa (ASX release 29 March 2022) to fully develop a Clean Lithium Supply Chain to meet the global environmental demands for Electric Vehicles.
Adding a second non-binding MoU offtake collaborator further de-risks the project for financiers and investors.
Lake Resources NL (ASX:LKE; OTC:LLKKF) is a clean lithium developer utilising clean, direct extraction technology for the development of sustainable, high purity lithium from its flagship Kachi Project, as well as three other lithium brine projects in Argentina. The projects cover 200 sq km in a prime location within the Lithium Triangle, where 40% of the world’s lithium is produced at the lowest cost.