European Lithium, a mining and exploration company, has signed an agreement with Saudi conglomerate Obeikan Group to jointly develop and operate a lithium hydroxide processing plant in Saudi Arabia, according to a company statement on June 2.

Through the 50:50 joint venture, European Lithium will sell the spodumene mined at its site near the town of Wolfsberg, Austria, to be processed into lithium hydroxide, which offers better power density for batteries than lithium carbonate.

fDi Intelligence

The Saudi facility is expected to be developed to meet European Lithium’s long-term supply agreement with German carmaker BMW. 

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