North American lithium producer Elevra Lithium Limited ("Elevra") ((ASX:ELV, NASDAQ:ELVR) is pleased to announce that it has executed a binding Spodumene Concentrate Supply Agreement (the "Agreement") with Mangrove Lithium ("Mangrove") for the long-term supply of spodumene concentrate produced at North American Lithium ("NAL") in Québec.
 

The Agreement follows the non-binding Memorandum of Understanding ("MoU") announced by Elevra on 10 February 20261. Since that time, Elevra and Mangrove have finalised technical, logistics and commercial terms, resulting in a definitive, binding Agreement (subject to achievement of agreed conditions precedent) for the supply of spodumene concentrate to Mangrove’s 20,000 tonne per annum LCE (Lithium Carbonate Equivalent) conversion facility proposed to be developed in Eastern Canada.

The Agreement has an initial term of seven (7) years, increased from five years under the MoU, with a further seven-year (7) renewal, unless either party elects to terminate. Consistent with the arrangements contemplated under the MoU, performance under the Agreement remains subject to Mangrove securing the necessary project financing, taking a positive Final Investment Decision (FID), and achieving sustained commercial operations of no less than 50% of nameplate capacity.