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Stardust Power signs lithium supply LOI to support US battery plans
The non-binding letter of intent points to phased demand for battery-grade lithium carbonate of 3,000 MT in 2028, 10,000 MT in 2029, and 20,000 MT by 2030.
US lithium developer Stardust Power (NASDAQ: SDST) said it signed a non-binding letter of intent with Charge CCCV LLC, also known as C4V, for the supply of battery-grade lithium carbonate from its lithium refinery in Muskogee, Oklahoma. The material would support C4V battery manufacturing joint ventures in the United States, according to Mining.com.
C4V provided a preliminary demand forecast for potential offtake, with a phased approach of 3,000 MT in 2028, 10,000 MT in 2029, and 20,000 MT by 2030. Stardust Power said that if the agreements are finalized, they could cover a large share of its planned production and generate billions of dollars in sales if lithium prices stay at current levels.
The company framed the deal against US efforts to secure domestic lithium supplies amid concerns about reliance on imports from China. Mining.com also noted Stardust Power previously agreed to supply Japan’s Sumitomo Corporation with at least 20,000 tonnes of lithium carbonate a year once its Oklahoma refinery reaches production.
Stardust Power CEO Roshan Pujari said C4V is one of the few gigafactory platforms operating in the United States and that its demand profile underscores the scale of domestic battery manufacturing underway. The report said the stock closed the day down 8.5% on the Nasdaq, and that the company has a $6.6 million market capitalization, with second-quarter net income of $480 million versus $22.9 million a year earlier.
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