BusinessMining

Prospect signs Petalite deal with Sibelco

STAFF WRITER
African lithium developer, Prospect Resources Ltd, has entered into an
offtake agreement with Sibelco N.V which will take 700,000 dry metric
tonnes (dmt) of high quality, ultra-low iron petalite concentrate from
Arcadia in seven years.
Sibelco is a global leader in industrial minerals and the agreement is
for 100,000 dmt per annum.
Prospect’s managing director Sam Hosack described the transaction as
the “the largest ultra-low iron petalite offtake agreement ever
signed”.
“Sibelco is a global industrial minerals business, with annual
turnover of some €3.5bn. 0nce in production, Prospect is expected to
be the largest ultra-low iron petalite producer in the world,” Hosack
said.
According to the agreement, the parties will annually agree binding
delivery quantities, pricing and end customer contract terms for the
following year.
Sibelco was founded in 1872, initially supplying silica sand from
deposits in Flanders to Belgium’s major glass producers. It operates
174 production sites in more than 30 countries.
Its main products are silica, high purity quartz and speciality
minerals such as petalite.
Prospect’sflagship project is the Arcadia Lithium project located in Zimbabwe.

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