DENVER — A Denver-area graphite mining company struck a deal to supply a South Korean battery giant with key ingredients for the U.S. electric vehicle battery factories it’s opening in the South.
South Korean battery maker SK On, supplier to Ford, Hyundai and others, reached agreement this week to buy at least 10,000 metric tons of refined graphite per year from Centennial-Westwater Resources Inc. (NYSE: WWR), a company building a graphite refining plant in Kellyton, Alabama.
The deal is poised to make Westwater a key supplier in electric vehicle battery ingredients that manufacturer’s normally have to source from processors in China.
“We are excited to partner with a leading global manufacturer of EV batteries and assist SK On to further establish its U.S.-based supply chain,” said Terence Cryan, Westwater executive chairman, in a statement issued about the off-take contract. “This agreement is also a critically important step to securing the additional financing needed to complete construction of phase one of our Kellyton graphite plant.”
Financial terms of the supply deal with SK On were not disclosed.
> Read the full article at the Denver Business Journal.
SUGGESTED VIDEOS: Latest from 9NEWS
> Top stories from 9NEWS curated daily just for you! Sign up for the 9NEWSLETTER right now to get can’t-miss stories, Next and Broncos content, weather and more delivered right to your inbox.
