Aqua Metals and WMC Group Sign LOI for Lithium Carbonate Production
Aqua Metals and WMC Group AG have signed a six-year letter of intent covering 100% of lithium carbonate output from Project Headwaters. The facility aims to produce 7,000 metric tons by 2032, potentially representing $135 million in gross value at current market prices, addressing the urgent need for domestic refining capacity due to U.S. policy changes.
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Aqua Metals, Inc. has finalized a non-binding six-year letter of intent with WMC Group AG for the complete output of lithium carbonate from Project Headwaters. This project, located in the Midwest U.S., is projected to yield approximately 7,000 metric tons of lithium carbonate from 2028 to 2032, starting with 250 metric tons in 2028 and ramping to 2,250 metric tons annually by 2032, representing a potential gross value of around $135 million based on current pricing.
The agreement includes provisions for market-indexed pricing and collaboration on sourcing and product qualification, with a definitive agreement expected by September 30, 2026. This initiative is timely, as recent U.S. policies under the Defense Production Act mandate increased domestic refining capacity for critical minerals, including lithium. The evolving regulatory landscape could intensify the demand for Aqua Metals' recycling capabilities, while the partnership with WMC may enhance the supply chain resilience for U.S. critical minerals.
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