Easpring signs 8-year contract to buy nickel, cobalt raw materials from Lygend subsidiary

Chinese battery raw material supplier Beijing Easpring Material Technology Co has inked a deal with Indonesia's Halmahera Persada Lygend (HPAL) for an eight-year supply of nickel and cobalt beginning in 2021.

“Nickel and cobalt [resources] have becoming more and more important amid robust demand following strong sales of new energy vehicles (NEVs) globally… and the deal will help us secure a sufficient supply of raw materials to meet growing demand,” the company said in a filing to the Shenzhen Stock Exchange on Thursday February 4.

The supply contract specifies eight-year totals for battery-grade nickel raw materials between 43,200 tonnes and 149,040 tonnes and cobalt by-products between...

Published

Sally Zhang

February 05, 2021

08:29 GMT

Shanghai