Prairie Lithium (ASX:PL9) has secured a binding offtake agreement with South Korea's Hydro Lithium for up to 10,000 tonnes per year of lithium product, announced December 10. The deal sees Hydro Lithium purchase 100 per cent of Phase 1 production from the company's Saskatchewan project, which begins at roughly 150 tonnes per annum. It follows an earlier non-binding agreement with Oklahoma-based Stardust Power for up to 6,000 tonnes per year.

Founder Zach Maurer told Pipeline Online the South Korean arrangement 'establishes our definitive supply chain', allowing Prairie Lithium to finalise equipment specifications, lower capital expenditure and unlock additional financing options. Since September 2021 the company has delineated approximately 9.2 million tonnes of lithium carbonate equivalent near Torquay, with long-term production goals of 15,000 to 20,000 tonnes annually.

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