Galaxy Resources Limited (ASX:GXY) announced that it has varied its existing Offtake Agreement with Yahua International Investment and Development Co., Ltd to extend its term by another 3 years till 31 December 2025. The extension of contract would depend on Yahua continuing to fulfill the terms of the current deal up to 31 December 2022 and the parties approving a pricing mechanism from 2023 to 2025.
Yahua would purchase further 30,000 dmt of 6% Li2O spodumene concentrate during the rest of 2020 and 120,000 dmt per annum of 6% Li2O spodumene concentrate from Mt Cattlin from 2021 to 2025.
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