ExxonMobil and LG Chem sign lithium carbonate supply agreement

On November 20, US oil giant ExxonMobil announced that it had signed a non-binding memorandum of understanding with South Korea's LG Chem to reach a multi-year offtake agreement for up to 100,000 tons of lithium carbonate. The lithium carbonate will be supplied from ExxonMobil's Arkansas project in the United States to LG Chem's cathode plant in Tennessee. The plant is scheduled to start operations next year. In June this year, SK On, a subsidiary of SK Innovation, signed a non-binding lithium supply memorandum of understanding with ExxonMobil.