240,000 metric tons of spodumene concentrate will be supplied within four years, from a mine that has already started production in Canada.
Localized supply will support the growing demand for energy storage systems in North America and strengthen the regional value chain.
Locking in spodumene concentrate supply will enhance the company's flexibility in raw materials for the electric vehicle and energy storage systems markets.
Seoul, South Korea, October 7, 2026 / PRNewswire / -- LG New Energy ( KRX: 373220) announced today that it has signed a multi-year, binding purchase agreement regarding spodumene concentrate with Elevra Lithium.
Elevra Lithium is a North American lithium producer with projects in Quebec, Canada, the United States, and also has a joint venture in Western Australia.
According to the agreement, starting later this year, Elevra Lithium will supply 240,000 dry metric tons of spodumene concentrate to LG over a period of four years. This spodumene concentrate will be produced from the North American Lithium ( NAL ) project located in Quebec, Canada, which has already been put into operation by Elevra.
LG New Energy stated that as spodumene concentrate will be purchased from a North American mine that has already started production and is expected to begin supply later this year, the company will be better positioned to meet the needs of local customers, while also supporting the rapid growth of the regional energy storage system ( ESS ) market.
LG New Energy stated that in order to proactively meet the continuously rising demand in the North American energy storage system market, the company currently has 5 wholly-owned and joint-venture facilities in the region, providing support for the growing demand from customers for reliable and scalable ESS solutions driven by lithium iron phosphate (LFP) batteries.
Since its commissioning last year, the wholly-owned factory NextStar Energy located in Windsor, Canada, has been an important part of Canada's growing battery ecosystem.
The company stated that the factory has received an investment of over 5 billion Canadian dollars and is expected to create up to 2,500 direct jobs once it reaches full production. This facility, combined with the local spodumene concentrate supply, will strengthen Canada's local value chain.
LG New Energy states that ensuring a stable supply of spodumene concentrate not only allows the company to further diversify its raw material procurement mix from lithium carbonate and lithium hydroxide, but also provides greater flexibility in production optimization in response to the constantly changing market demands and conditions for electric vehicles ( EV ) and energy storage systems. As a key intermediate material, spodumene concentrate can be processed into both lithium carbonate and lithium hydroxide, thereby helping to enhance production expansion capabilities, strengthen supply chain resilience, and support a stable supply of critical battery materials.
Elevra Lithium CEO and Managing Director Lucas Dow stated: "This agreement with LG in the new energy sector is an important step in implementing the business strategy outlined in our 2026 fiscal year performance report. It secures a significant portion of the committed customers for Elevra's NAL production volume, while still maintaining flexibility in pricing for the spodumene concentrate market."
He also stated, "Having a globally leading battery manufacturer as a customer further strengthens the commercial position of NAL and supports our strategy of building a high-quality, diversified customer base while increasing production and advancing the expansion of NAL."
LG, the person in charge of the New Energy Procurement Center, Kang Yeol Lee stated: "This agreement is another important step for us to strengthen our North American raw materials supply chain and support the rapidly growing ESS market in that region."
He stated, "By securing a stable supply of spodumene concentrate from established production sources in North America, we are enhancing the flexibility and resilience of our supply chain, while also improving our ability to meet the ever-changing needs of customers at a faster pace and on a larger scale."
About LG New Energy
LG New Energy ( KRX : 373220) is a globally leading lithium-ion battery manufacturer, with products targeting electric vehicles, mobile transportation, IT, and energy storage systems. The company states that, with over 30 years of innovative battery technology experience and extensive R&D capabilities, it holds more than 100,000 patents, making it the enterprise with the highest number of battery-related patents in the world. Its global network covers North America, Europe, and Asia, including battery manufacturing facilities established through joint ventures with major automobile manufacturers. LG New Energy asserts that the company is committed to building a sustainable battery ecosystem, aiming to achieve carbon neutrality across the entire value chain by 2050, while also practicing a culture of shared growth and promoting a diverse and inclusive corporate culture.
