Finance
Australia's Vulcan Energy inks agreement to supply Glencore with lithium
Published by Global Banking & Finance Review®
Posted on October 12, 2025
1 min readLast updated: January 21, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on October 12, 2025
1 min readLast updated: January 21, 2026
Vulcan Energy signs an agreement to supply Glencore with lithium hydroxide from its Lionheart Project, completing Phase One financing.
(Corrects company name in headline to Vulcan Energy, not Vulcan Resources)
(Reuters) -Vulcan Energy said on Monday that it has signed an agreement with Glencore to supply the mining giant with lithium hydroxide monohydrate from its Lionheart Project in Europe.
The company will supply Glencore with between 36,000 tonnes and 44,000 tonnes of lithium hydroxide monohydrate over an initial eight-year period, which accounts for about 20% of Vulcan's current planned output over the period.
The agreement with Glencore follows deals inked with car maker Stellantis, Umicore and LG Energy Solution, and will be the final offtake agreement for Lionheart Project's Phase One project financing. Vulcan said it is also in discussions with other European automakers.
"Vulcan has now achieved a good mix of offtake partners for Phase One lithium production: an automaker, a battery maker, a cathode manufacturer, and a commodities trader, all with a strong European focus", said Cris Moreno, the company's chief executive officer and managing director.
The Lionheart Project, located at the French-German border, is the largest lithium resource in Europe, according to Vulcan.
(Reporting by Nichiket Sunil in Bengaluru; Editing by David Gregorio)
Lithium hydroxide monohydrate is a chemical compound used primarily in the production of lithium-ion batteries, which are essential for electric vehicles and renewable energy storage.
The Lionheart Project is a lithium extraction initiative located at the French-German border, aimed at producing lithium hydroxide for battery manufacturing in Europe.
Lithium is primarily used in rechargeable batteries for electric vehicles, smartphones, laptops, and other electronic devices, as well as in various industrial applications.
Glencore is a multinational commodity trading and mining company, one of the world's largest producers and traders of natural resources, including metals and minerals.
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