Elevra Lithium Ltd

Elevra Lithium Ltd focuses on the mining, extraction and production of spodumene concentrate, a higher-grade lithium concentrate suitable for the production of lithium carbonate and lithium hydroxide. The company does not directly participate in the market for inorganic and organic lithium derivatives. Lithium carbonate and lithium hydroxide are principally used to produce cathodes for rechargeable batteries. According to Benchmark Mineral Intelligence, batteries are the leading application for lithium, accounting for approximately 91% of total global lithium demand, including batteries for electric vehicles, which accounted for approximately 60% of total global lithium demand in 2025. Elevra is party to two contract notes with an international trading company to provide spodumene concentrate from North American Lithium, with pricing determined by a market-based mechanism. On August 21, 2026, the Company entered into a spodumene concentrate supply agreement with Mangrove Lithium for the supply of spodumene concentrate produced at North American Lithium to Mangrove Lithium's conversion facility proposed to be developed in eastern Canada. The agreement has an initial term of seven years, with a further seven-year renewal, unless either party elects to terminate.