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Vulcan Energy Resources Limited (ASX:VUL)

ALERT: Price-sensitive ASX Announcement for VUL
Current share price for VUL : $3.050 -3.73 (-55.01%)+
Announcement
Release
13 Oct 2025 8:53AM
Price at Release
$6.780
Full Release
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Summary
Vulcan Energy Resources Limited has signed a binding lithium offtake agreement with Glencore, a major international commodity trading and mining company. This agreement is part of Vulcan's Phase One Lionheart Project, which aims to produce 24,000 tonnes per annum of battery-quality lithium hydroxide monohydrate, sufficient for approximately 500,000 electric vehicles annually. The agreement with Glencore, which covers the supply of 36,000 to 44,000 tonnes of lithium over eight years, is the final piece in Vulcan’s strategy to secure financing for the first phase of their project. This aligns Vulcan with key offtake partners, including Stellantis, Umicore, and LG Energy Solution. The agreement offers flexibility for future European partnerships and leverages Glencore's market expertise. Vulcan plans to finalize financing in Q4 2025 and expects to commence production in 2028.
Key Points
  • Vulcan signs binding offtake agreement with Glencore.
  • Agreement covers 36,000 to 44,000 tonnes of lithium over eight years.
  • Part of Vulcan's Phase One Lionheart Project.
  • Project aims to produce enough lithium for approximately 500,000 electric vehicles annually.
  • Final offtake agreement needed for Phase One financing.
  • Glencore joins Stellantis, Umicore, and LG Energy Solution as partners.
  • Agreement offers potential for European partnerships.
  • Vulcan targets to finalize financing in Q4 2025.
  • Commercial production expected to start in 2028.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.