Saturday, 26 May, 2018

Australia's Kidman Resources to supply lithium hydroxide to Tesla

Kidman makes history as first Aussie miner to shake hands with Tesla Elon Musk's Tesla moves in on WA lithium with 'strictly confidential' Kidman offtake deal
Jean Garcia | 17 May, 2018, 19:32

The initial three-year deal is based on a fixed-price, take-or-pay arrangement and has two three-year extension options. "The other commercial terms of the Agreement are strictly confidential".

Lithium developer Kidman Resources (ASX:KDR) has entered a binding agreement to provide lithium hydroxide to electric vehicle company Tesla.

An Australian company has landed a deal with Elon Musk's electric auto firm Tesla to supply a key ingredient to power the electric vehicles.

WAL was borne from a $US110 million ($146.3 million), 50-50 deal between Kidman and Sociedad Quimica y Minera de Chile (SQM) for the development of a refinery at the Mt Holland lithium mine near Southern Cross, WA.

Gigafactory 1 is now only producing at a fraction of its planned total capacity and this new deal might not even be for lithium to supply the plant.

VideoA new lithium plant in Kwinana is expected to create thousands of new jobs.

Alexander-Arnold confident momentum following Liverpool to Kiev
Trent Alexander-Arnold is pleased with the way Liverpool have ended their Premier League campaign. That's what we came out to do and that's what we've done.

Kidman is forecasting first lithium concentrate production in the 2nd half of 2019, with the first lithium hydroxide / carbonate production to come in the 2nd half of 2021.

Earlier this month the joint venture partners secured a refinery site at Western Australia's new Kwinana Strategic Industrial Area (SIA).

"The Tesla agreement is an important milestone for Kidman".

"To date, expressions of interest from these parties have materially exceeded Kidman's portion of initial refinery nameplate production", the company said.

"It further validates our strategy of being an ASX-listed manufacturer of battery-grade refined lithium", managing director Martin Donohue said.

This is the first off-take deal for Kidman and the company is continuing talks with other parties with a view to securing additional supply deals.

Recommended

  • Australia restricts live sheep exports, but no Middle East ban

    Australia restricts live sheep exports, but no Middle East ban

    Federal Agriculture Minister David Littleproud is rejecting calls to ban the industry, saying the new safeguards go far enough. Among other measures, an independent regulator, with investigative power, will oversee the sector.
    Mac Miller Arrested for DUI

    Mac Miller Arrested for DUI

    An eyewitness called the cops and told them which direction Mac and his buddies had gone. Cops were able to trace the vehicle's plates to Mac's house, where they found him.
    Browns Featured On 'Hard Knocks' In 2018

    Browns Featured On 'Hard Knocks' In 2018

    Last year, the show centered around the Tampa Bay Buccaneers , including former OU defensive lineman Gerald McCoy . But the plot of Cleveland trying to turn things around was too good for NFL Films and HBO to ignore.
  • Multiple injured after school bus collides with dump truck in New Jersey

    Multiple injured after school bus collides with dump truck in New Jersey

    Raw video from the scene: The extent of the injuries is unknown, but at least two victims have life-threatening injuries. Some eastbound lanes reopened about an hour later, although the westbound lanes remained closed.

    Intrexon Corporation (XON) With $16.20 Price Forms Multiple Bottom Pattern

    Intrexon Corporation (NYSE: XON ) subtracted -$3.66 to its price during the regular trading session on Friday, reaching $14.98. It's down -0.11, from 1.24 in 2017Q3. 145.16 million shares or 8.84% less from 159.24 million shares in 2017Q3 were reported.
    Messi and Barcelona teammates beat Sundowns to win Mandela Trophy

    Messi and Barcelona teammates beat Sundowns to win Mandela Trophy

    The Brazilians suffered a 3-1 loss to the Spanish champions in an global friendly played at the FNB stadium on Wednesday night.
  • Sirens Sound in Golan Heights

    Sirens Sound in Golan Heights

    The Israel Defense Forces said the Iron Dome was activated (rocket battery pictured) but it later turned out to be a false alarm. Within 30 minutes after the operation "TS'ovy Hell", the press service of the IDF reported that it was a false alarm.
    Housing Production Dips 3.7 Percent in US

    Housing Production Dips 3.7 Percent in US

    A hoped-for spring surge in homebuilding to relieve a worsening national housing shortage didn't materialize in April, U.S. Permits, a proxy for future construction of all types of homes, fell 1.8% to a 1.35 million rate (matching the estimate).
    Pit bulls attack 4 people, dog in San Francisco's Dolores Park

    Pit bulls attack 4 people, dog in San Francisco's Dolores Park

    Bloom's owners and other family members attempted to break up the three dogs, and four had their hands bitten in the process. Anyone with information on the case may call the 24-hour tip line at 415-575-4444 or text "SFPD" to TIP411.
  • Investigation opened in Russian Federation  into 15 Ukrainian judges

    Investigation opened in Russian Federation into 15 Ukrainian judges

    The auto portion of the Kerch Strait Bridge, which holds the title of Europe's Longest Bridge, was completed six months ahead of schedule, New Hampshire Public Radio reported .
    GOP Governor of Maryland Bans 'Ex-Gay' Therapy for Youth

    GOP Governor of Maryland Bans 'Ex-Gay' Therapy for Youth

    After the bill was signed into law, Senator Madaleno called the news "fantastic". "They are flawless as they are". Practitioners of "conversion therapy" claim to be able to change the sexual orientation of LGBT people.
    ABC Fall Lineup 2018 TV Schedule and New Shows Lineup Announced!

    ABC Fall Lineup 2018 TV Schedule and New Shows Lineup Announced!

    Roseanne's dig at the shows didn't sit well with many, but Dungey maintains that its intent wasn't to offend. ABC will program 10 comedies every week in the fall, spread out across three nights.

Karnataka developments trigger series of reactions in Goa, Bihar and Manipur Karnataka developments trigger series of reactions in Goa, Bihar and Manipur However, BJP clobbered up the support of 11 MLAs to add to its tally of 21 to form the government. Goa Congress chief Girish Chodankar said the governors can not have two different sets of rules.

JC Penney the latest company to blame cold weather for slumping sales JC Penney the latest company to blame cold weather for slumping sales Analysts use a stock's beta, which measures the volatility of a stock compared to the overall market, to measure systematic risk. During the past three months the stock gain -16.8%, however six months performance of the stock remained at 4.07%.

United Kingdom referred to Europe's top court over air pollution United Kingdom  referred to Europe's top court over air pollution But ministers refused to make them compulsory, instead making them a voluntary and last-resort option for local authorities. The Commission also warned Germany, Italy, Luxembourg and Britain for disregarding auto approval rules.

IShares MSCI Russia Capped ETF (ERUS) Short Interest Down 90.4% in April IShares MSCI Russia Capped ETF (ERUS) Short Interest Down 90.4% in April Many investors may use MA's as a way to develop support and resistance levels in order to spot specific trade entries and exits. Although the CCI indicator was developed for commodities, it has become a popular tool for equity evaluation as well.

GTA V has shipped 95 million copies, so close to 100 million GTA V has shipped 95 million copies, so close to 100 million Besides, the company has also reported that its recently launched GTA V Premium Online Edition has performed above expectations. As we told you before , it is a version that includes the base game, as well as several bonuses for Grand Theft Auto Online .

Google WiFi now lets you measure performance of individual devices on network Google WiFi now lets you measure performance of individual devices on network It also means you can immediately fix connectivity problems, and won't have to learn the hard way that your devices need to move. Google says the Network Check update will be "available in the coming weeks to all Google Wifi users around the world".

Boxart for Call of Duty: Black Ops 4 Leaks Ahead of Reveal Boxart for Call of Duty: Black Ops 4 Leaks Ahead of Reveal Officially, nearly nothing has been said about the game, except that it's out on October 12 for Xbox One , PlayStation 4, and PC. For most Call of Duty games, only an average of 20 to 30 percent of players actually completed the campaign.

Explore Volatility Factor for Clear Picture: Acacia Communications, Inc. (ACIA) Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Acacia Communications by 185.5% during the 4th quarter. Dimensional Fund Advisors LP bought a new position in shares of Acacia Communications in the third quarter valued at $1,857,000.

BJP misusing government machinery since they came to power: Mayawati BJP misusing government machinery since they came to power: Mayawati The BJP has emerged as the single largest party in the southern state winning 104 seats, but is short of a simple majority. Soon after the Karnataka election results , TMC chief congratulated all newly elected MLAs.

The Red Hydrogen One will debut on Verizon and AT&T The Red Hydrogen One will debut on Verizon and AT&T Camera company RED's first smartphone packs a unique holographic display , and now, AT&T has announced that it'll stock the phone. Another detail missing from the carriers' announcements is how much you can expect to pay for the Hydrogen One.

Global oil demand may suffer as crude nears $80, warns IEA Global oil demand may suffer as crude nears $80, warns IEA Amid US sanctions looming on Iran , India's oil import has increased to 640,000 barrels per day (bpd) from Iran . Logic should dictate that OPEC would produce more oil to rake in the money while prices are high.

Governor Ivey sexuality in questioned by former Alabama Legislator Governor Ivey sexuality in questioned by former Alabama Legislator Ivey, pictured above, became governor in April of past year , following the resignation of former Gov. A spokesman from Ivey's office responded to Todd's allegation as "a disgusting lie".

BJP's Sahasrabuddhe confident of forming government in Karnataka BJP's Sahasrabuddhe confident of forming government in Karnataka Their desperation is clearly visible as leaders from Kashmir and West Bengal have sprung into action post the election results. Congress leaders alleged Bharatiya Janata Party ( BJP ) of poaching their MLAs to form government in Karnataka .

Does Occidental Petroleum Corporation (NYSE:OXY)'s Growth Make it a Buy? Does Occidental Petroleum Corporation (NYSE:OXY)'s Growth Make it a Buy? Webster Bank increased Blackrock Fund Advisors (AGG) stake by 4,095 shares to 105,679 valued at $11.55 million in 2017Q4. It can be extremely hard to decide when to sell, especially when data seems positive and most signs are pointing higher.

Same party in Karnataka and Centre: BJP changes long standing trend Same party in Karnataka and Centre: BJP changes long standing trend The new BJP government has 15 days to gather enough support to survive a vote in the legislature on its leadership. The court issued a notice to Yeddyurappa , asking him to produce the letter before the next hearing on 18 May.