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

The definitive agreement replaces the non-binding memorandum of understanding signed in February 2026. Under the updated terms, the initial contract term is extended to seven years from five, with a further seven-year renewal option. Performance remains conditional on Mangrove securing necessary project financing, taking a positive Final Investment Decision by 31 December 2028, and achieving sustained commercial operations at its proposed Eastern Canada lithium conversion facility.

Contracted take-or-pay volumes total 122,000 dry metric tonnes in Year 1 and 144,000 dry metric tonnes annually beginning in Year 2. Mangrove may elect to purchase up to 72,000 dry metric tonnes in any twelve-month period prior to reaching commercial operation, and can increase annual volumes by up to 20% subject to available capacity and company agreement.

Pricing is linked to market rates for spodumene concentrate with product grade adjustments. The arrangement incorporates a price floor expected to sit above production costs while removing the price ceiling contained in the earlier memorandum of understanding, preserving full exposure to potential price upside. Deliveries to a domestic customer also allow Elevra to avoid ocean freight costs associated with international shipments.

“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.” — Lucas Dow, Chief Executive Officer and Managing Director

Elevra operates North American Lithium as a 100%-owned asset in Québec, where the company initiated a staged brownfield expansion in June 2026. Stage 1 of the expansion is expected to be completed in mid-CY27, supported by strategic backing from the Canada Growth Fund through convertible note investments.

“We are very pleased to have converted the MoU with Elevra into a binding supply agreement. This is a significant step forward for Mangrove and for the development of a Canadian lithium supply chain.” — Saad Dara, Mangrove Lithium CEO and Founder

Both companies have received investment support from the Canada Growth Fund, reflecting Canadian government backing for a domestic mine-to-chemicals lithium supply chain.

Read the full announcement: Elevra Lithium Completes Binding Supply Agreement with Mangrove Lithium