May 16, 2018 / 11:12 PM / 11 days ago

BRIEF-Kidman Resources Enters Binding Lithium Hydroxide Offtake Agreement With Tesla

May 17 (Reuters) - Kidman Resources Ltd:

* ENTERED INTO A BINDING AGREEMENT WITH TESLA, INC. TO SUPPLY LITHIUM HYDROXIDE

* INITIAL TERM 3 YEARS ON FIXED-PRICE TAKE-OR-PAY BASIS FROM DELIVERY OF FIRST PRODUCT, AND CONTAINS 2 3-YEAR TERM OPTIONS

* AGREEMENT EQUATES TO LESS THAN 25% OF KIDMAN’S PORTION OF INITIAL NAMEPLATE PRODUCTION FOR FIRST THREE YEARS FROM REFINERY

* OTHER COMMERCIAL TERMS OF AGREEMENT ARE STRICTLY CONFIDENTIAL Source text for Eikon: Further company coverage:

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