Canada Lithium, Marubeni Sign Off-Take Deal

Mining Weekly reported that lithium project developer Canada Lithium (TSX:CLQ) has signed an off-take agreement with Marubeni, a Japanese commodity trader.  The agreement will involve 25% of the company’s lithium production, and will give Marubeni the exclusive rights to distribute Canada Lithium’s lithium carbonate in Japan for three years.

As quoted in the market news:

Canada Lithium CEO Peter Secker on Thursday told Mining Weekly Online Japan remains by a significant margin the world’s most developed market for lithium-ion batteries, with modern vehicles such as Toyota’s hybrid Prius and Nissan’s electric Leaf driving a new wave of strong demand for high-grade lithium.

Click here to read the full Mining Weekly report.