Lithium Universe (ASX:LU7) reports progress update from Norah Mining offtake partner

Lithium Universe has provided an update on its binding spodumene offtake partner, Norah Mining Limited, which is constructing a 120,000 tonnes per annum spodumene concentrator in south west Nigeria.

The announcement reports construction progress provided by Norah Mining, confirms the existing long term offtake arrangements and outlines the rights available under the Definitive Offtake Agreement, including the ability to market and sell spodumene concentrate before the proposed downstream refinery is operational.

Highlights

Norah Mining has advised Lithium Universe that construction is progressing well and has provided updated photographs showing the installation of major process equipment, structural steel, tanks and supporting infrastructure.

The concentrator is designed to produce approximately 120,000 tonnes per annum of export grade spodumene concentrate using a 3 stage DMS circuit with flotation of fines and is supported by a private export jetty to facilitate international shipments.

Norah Mining has also advised that it is fully funded for construction and that the concentrator is expected to be completed in the second half of 2026.

Lithium Universe states that it has not independently inspected the project or verified the reported construction progress and therefore makes no representation regarding the accuracy or validity of the information or photographs provided by Norah Mining.

Lithium Universe signed the binding Definitive Offtake Agreement with Norah Mining in February 2026 for the long term supply of spodumene concentrate from Nigeria.

Under the agreement, Norah Mining will supply up to 80,000 tonnes per annum of spodumene concentrate grading 6.0% Li₂O, with supply currently targeted to commence in late 2026.

The agreement secures a significant portion of the feedstock required for either of Lithium Universe's proposed North American lithium refining operations and gives the company the right to market and sell spodumene concentrate to third parties if its downstream refinery is not yet operational.

Lithium Universe plans to engage with potential customers ahead of the concentrator's commissioning.

Before funding and construction of its planned North American lithium refinery, Lithium Universe intends to evaluate opportunities to commence third party trading of spodumene concentrate supplied under the long term binding offtake agreement.

The company states that the agreement also includes investment rights, first right of refusal over future ownership changes and a technical advisory role supporting Norah Mining's project development.

Lithium Universe Chief Executive Officer Iggy Tan said:

“Our relationship with Norah delivers far more than long term feedstock security for our planned lithium refinery. It also provides the opportunity to commence spodumene trading ahead of refinery construction. This has the potential to establish our position within the global lithium supply chain. Combined with our strategic investment rights and close collaboration with Norah Mining, this partnership strengthens Lithium Universe's long term feedstock strategy and positions the Company to participate across multiple stages of the lithium value chain.”

Norah Mining has advised that the concentrator is expected to be completed in the second half of 2026.

Supply is currently targeted to commence in late 2026.

Lithium Universe plans to engage with potential customers ahead of the concentrator's commissioning.