Elevra Lithium Limited has executed a definitive, binding Spodumene Concentrate Supply Agreement with Mangrove Lithium for the long-term supply of spodumene concentrate produced at the North American Lithium operation in Québec.

The agreement establishes an initial seven-year term, superseding the five-year timeframe outlined in the non-binding memorandum of understanding announced in February 2026. Contracted take-or-pay volumes total 122,000 dry metric tonnes in the first year and 144,000 dry metric tonnes annually from year two onward, with provisions allowing Mangrove to purchase up to 72,000 dry metric tonnes during any twelve-month period prior to achieving commercial operation.

Pricing under the definitive agreement remains linked to market rates for spodumene concentrate, incorporating a floor price designed to sit above production costs while entirely removing the price ceiling that had been contemplated in the earlier memorandum of understanding. Deliveries are directed to Mangrove’s proposed lithium conversion facility in Eastern Canada, allowing Elevra to bypass international seaborne freight expenses.

Performance under the agreement remains subject to specific conditions precedent. Mangrove must secure project financing, reach a final investment decision by 31 December 2028, and attain sustained commercial operations at no less than 50% nameplate capacity within three years of that decision.

“This binding agreement with Mangrove Lithium is a significant step forward from the MoU we announced. It provides Elevra with a long-term local customer for NAL production on attractive terms, backed by a price floor set above our expected cost of production and with no price ceiling to limit potential upside. Supplying a customer located close to NAL also allows us to avoid the seaborne freight costs associated with shipping to international customers, which further supports our margins.” 

“We are pleased that both Elevra and Mangrove Lithium have separately attracted the support of the Canada Growth Fund. That shared backing is a strong signal of the Canadian government's commitment to building a domestic lithium supply chain.” 

— Lucas Dow, Chief Executive Officer and Managing Director

Elevra’s asset portfolio encompasses full ownership of North American Lithium, a 60% interest in the Moblan Lithium Project located in Central Québec, and the wholly owned Carolina Lithium Project in the United States.

Read the full announcement: Binding Agreement concluded with Mangrove Lithium