TALISON LITHIUM AND SOJITZ SIGN MEMORANDUM OF UNDERSTANDING
Dec. 8, 2011
Talison Lithium Limited
December 8th 2011: Talison Lithium Limited (“Talison”) (TSX:TLH) and Sojitz Corporation (“Sojitz”) announced today that they have signed a Memorandum of Understanding (“MOU”) to discuss on a non-exclusive basis collaborative marketing and distribution opportunities in Japan for lithium carbonate produced by Talison.
Responding to growing global demand for an additional secure supply of lithium chemicals, particularly from electric vehicle battery manufacturers, Talison is aggressively pursuing its proposed plant to convert lithium minerals into lithium carbonate (“Minerals Conversion Plant”). The Minerals Conversion Plant is to be located Western Australia with an initial capacity of 20,000 tonnes per annum lithium carbonate. Talison is targeting commissioning of the plant in its 2015 financial year.
Sojitz is a leading Japanese trading firm with extensive involvement in the battery material market and more than 30 years’ experience in distributing lithium chemicals to customers in Japan. Sojitz is interested in accessing an additional supply of lithium chemicals to support its customers in the rapidly growing lithium-ion battery market in Japan.
Talison and Sojitz foresee the potential for mutual benefit in collaborative marketing and distribution of lithium chemicals to customers located in Japan, and ensuring the sustainable growth of the lithium-ion battery market. The Memorandum of Understanding provides a framework for Talison and Sojitz to discuss collaboration opportunities on a non-binding basis and is valid for an initial period of 12 months.
Talison Chief Executive Officer Mr Peter Oliver said: “This MOU is the next step in the development of Talison’s Mineral Conversion Plant as it will enable Talison to accelerate the formation of customer relationships in Japan - one of the world’s largest markets for lithium carbonate.”
Senior Vice President Mr Yoshihiro Tamura of Sojitz commented: “Talison owns one of the largest lithium resources in the world and has already been producing lithium concentrate for many years. Sojitz is excited about Talison’s plan to produce lithium carbonate and foresees a unique opportunity for two of the leading participants in the global lithium market to work together to develop a stable secure supply of lithium for new energy markets in Japan.”
Talison is a leading global producer of lithium. Talison has been producing lithium concentrate for a global customer network from the Greenbushes Lithium Operations in Western Australia for over 25 years. In addition, Talison explores for lithium at the Salares 7 lithium project made up of seven salars located in Region III, Chile.
About Sojitz Corporation
Sojitz is a leading Japanese trading firm and the largest supplier of rare earths into Japan. As a general trading company Sojitz conducts transactions and business operations in Japan and overseas in a wide range of fields including machinery, energy and metals, chemicals and functional materials, and consumer lifestyle businesses.