{"id":413413,"date":"2021-01-12T14:03:12","date_gmt":"2021-01-12T19:03:12","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=413413"},"modified":"2021-01-12T14:03:12","modified_gmt":"2021-01-12T19:03:12","slug":"amg-advanced-metallurgical-group-n-v-enters-into-long-term-lithium-concentrate-supply-agreement","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/amg-advanced-metallurgical-group-n-v-enters-into-long-term-lithium-concentrate-supply-agreement\/","title":{"rendered":"AMG Advanced Metallurgical Group N.V. Enters into Long-Term Lithium Concentrate Supply Agreement"},"content":{"rendered":"
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\n Amsterdam, 12 January 2021 (Regulated Information)<\/em>
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\n —<\/em> AMG Advanced Metallurgical Group N.V. (“AMG”, EURONEXT AMSTERDAM: “AMG”) announces that AMG Brasil S.A. (\u201cAMG Brazil\u201d) has entered into an Exclusive Cooperation Agreement (\u201cECA\u201d) with one of its major customers for lithium concentrates.\u00a0 The ECA provides for AMG Brazil to supply 200,000 DMT over a 5-year supply term, which will be obtained from an expansion (targeting 40,000 DMT per annum) of AMG Brazil\u2019s existing lithium concentrate plant.\u00a0 The ECA includes an Advanced Payment for lithium concentrate which will fund AMG Brazil\u2019s investment in the expansion. Sales prices under the agreement are indexed to the published market price of lithium carbonate with a minimum price.<\/p>\n

\u201cAMG Brazil\u2019s existing lithium concentrate plant is producing at its nameplate capacity, and its production costs are in line with our prior projections.\u00a0 Consequently, we take this opportunity to expand our capacity and further build our relationships in the lithium supply chain,\u201d said Heinz Schimmelbusch, CEO of AMG.<\/p>\n

\u201cThis Cooperation Agreement and associated expansion represents AMG Brazil\u2019s continuing commitment to invest and grow its presence in the Minas Gerais state of Brazil,\u201d said Fabiano Costa, CEO of AMG Brazil.<\/p>\n

\n This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.<\/em>\n <\/p>\n

\n This press release contains regulated information as defined in the Dutch Financial Markets Supervision Act (Wet op het financieel toezicht).<\/em>\n <\/p>\n

\n About AMG<\/strong>\n <\/p>\n

AMG is a global critical materials company at the forefront of CO2<\/sub> 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.<\/p>\n

AMG Clean Energy Materials combines our recycling and mining operations producing materials for infrastructure and energy storage solutions while reducing the CO2 footprint of both suppliers and customers. Clean Energy Materials spans the vanadium, lithium, and tantalum value chains. AMG Critical Materials Technologies combines our leading vacuum furnace technology line with high-purity materials serving global leaders in the aerospace sector. AMG Critical Minerals consists of our mineral processing operations in antimony, graphite and silicon metal.<\/p>\n

With approximately 3,000 employees, AMG operates globally with production facilities in Germany, the United Kingdom, France, the United States, China, Mexico, Brazil, India, Sri Lanka, and Mozambique, and has sales and customer service offices in Russia and Japan (www.amg-nv.com<\/u><\/a>).<\/p>\n

\n For further information, please contact:<\/strong>
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\n AMG Advanced Metallurgical Group N.V.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 +1 610 975 4979<\/strong>
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\n Michele Fischer<\/strong>
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\n mfischer@amg-nv.com<\/u>
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\n Disclaimer<\/u>\n <\/p>\n

Certain statements in this press release are not historical facts and are \u201cforward looking\u201d.\u00a0 Forward looking statements include statements concerning AMG\u2019s plans, expectations, projections, objectives, targets, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans and intentions relating to acquisitions, AMG\u2019s competitive strengths and weaknesses, plans or goals relating to forecasted production, reserves, financial position and future operations and development, AMG\u2019s business strategy and the trends AMG anticipates in the industries and the political and legal environment in which it operates and other information that is not historical information.\u00a0 When used in this press release, the words \u201cexpects,\u201d \u201cbelieves,\u201d \u201canticipates,\u201d \u201cplans,\u201d \u201cmay,\u201d \u201cwill,\u201d \u201cshould,\u201d and similar expressions, and the negatives thereof, are intended to identify forward looking statements.\u00a0 By their very nature, forward looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward looking statements will not be achieved.\u00a0 These forward looking statements speak only as of the date of this press release.\u00a0 AMG expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward looking statement contained herein to reflect any change in AMG’s expectations with regard thereto or any change in events, conditions, or circumstances on which any forward looking statement is based.<\/p>\n

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\n Attachment<\/strong>\n <\/p>\n