LG Energy Solution to source key battery materials from Canada
By Bradley Osborne - 15th October 2022
South Korea / Canada – LG Energy Solution, a battery manufacturer and subsidiary of conglomerate LG Corporation based in Seoul, South Korea, has announced three separate partnership agreements with three Canadian companies for the supply of raw and refined materials crucial to the production of electric vehicle batteries.
On 22 September, LG Energy Solution signed a binding term sheet with Electra Battery Materials Corporation of Toronto, Ontario for the supply of 7,000 tons of cobalt(II) sulphate for three years starting in 2023. Cobalt(II) sulphate, or ‘CoSO4(H2O)x’, is used in the production of NMC (nickel-manganese-cobalt) batteries. The cobalt is sourced from Iron Creek, Idaho, USA and will be refined into battery-grade material at a “battery materials park” currently under construction in Ontario.
