Amsterdam, 3 March 2017 (Regulated Information) — AMG Advanced Metallurgical Group N.V. (“AMG”, EURONEXT AMSTERDAM: “AMG”) is pleased to announce that its subsidiary AMG Mineração, Brazil (“the Company”), has signed a multi-year contract to supply 90,000 tons per year of lithium concentrate, for conversion into lithium chemicals, with deliveries commencing in the second half of 2018.
Sales prices under the agreement are partially indexed to the published market price of lithium carbonate, subject to a contractual minimum threshold. The sales price (CIF China), determined with reference to the current published lithium carbonate market price, would exceed $800 per ton lithium concentrate.
In October 2016, the Company awarded an EPC contract to Outotec Oyj, Finland, for the turnkey delivery of a lithium concentrate (spodumene) beneficiation plant at its Mibra mine in Brazil, with an annual production capacity of 90,000 tons. The spodumene plant is expected to be operational mid-2018.
AMG Mineração is currently undertaking a drilling program at its Mibra mine in Brazil and expects to publish an updated mineral resource statement in the second quarter of 2017. The Company targets to double its annual lithium concentrate production capacity to 180,000 tons by end of 2019.
The recovery of lithium-bearing minerals from existing tailings, a by-product of AMG’s tantalum operations in Brazil, is expected to result in a cost-leading production process.
This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
This press release contains regulated information as defined in the Dutch Financial Markets Supervision Act (Wet op het financieel toezicht).
AMG is a global critical materials company at the forefront of CO2 reduction trends. AMG produces highly engineered specialty metals and mineral products and provides related vacuum furnace systems and services to the transportation, infrastructure, energy, and specialty metals & chemicals end markets.
AMG produces aluminum master alloys and powders, titanium alloys and coatings, ferrovanadium, natural graphite, chromium metal, antimony, tantalum, niobium and silicon metal. AMG Engineering designs and produces vacuum furnace equipment and systems used to produce and upgrade specialty metals and alloys for the transportation, automotive, infrastructure, and energy markets.
With approximately 3,000 employees, AMG operates globally with production facilities in Germany, the United Kingdom, France, Czech Republic, United States, China, Mexico, Brazil and Sri Lanka, and has sales and customer service offices in Russia and Japan (www.amg-nv.com).
For further information, please contact:
AMG Advanced Metallurgical Group N.V. +1 610 293 5804
Senior Vice President
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