Argentina brine project developer has been seeking development finance since last year
Chinese company Chemphys has signed an MoU for offtake and a US$40 million prepayment facility with Galan Lithium in respect of Hombre Muerto West project being built in Argentina.Chemphys, a "high purity lithium chemicals and technology company since 1998", is set to buy 23,000t lithium carbonate equivalent over five years.HMW will be producing lithium chloride during that period.Production is due to start in the second half of next year.
Chemphys takes the place of Glencore, which signed a "binding" offtake deal in November last year and offered to provide or facilitate a financing prepayment facility for $70-100 million.However, that deal proved to not be as binding as Galan said.
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