Australian Mines has pinned down a buyer for 100 per cent of the battery-grade cobalt sulphate and nickel sulphate produced in the first seven years of its Sconi project in North Queensland.
The company today announced a long-form off-take agreement with SK Innovation.
The deal replaces and expands upon the agreed terms of a previous binding term sheet.
The State Government has declared the $1.4 billion Sconi project, near Greenvale, a prescribed project, helping to streamline approvals and fast-track the development.
The project is expected to produce 1,405,000 tonnes of nickel sulphate, 209,000 tonnes of cobalt sulphate and 1441 tonnes of scandium over a 30-year project life.