For tech metals and water treatment company Clean TeQ Holdings (ASX:CLQ) , the main focus in recent years has been on funding construction at its Sunrise nickel-cobalt project in NSW. But the company announced a deal of a different kind this morning, in the form of a binding 10-year offtake agreement with US aerospace company Relativity Space Inc.
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Under the terms of the deal, Clean TeQ will supply scandium oxide to Relativity Space once production commences at Sunrise, with annual volumes to be determined by the buyer. The two sides have negotiated a “fixed price for scandium supplied pursuant to the heads of agreement”, which in turn can be terminated by Relativity Space with notice, or by Clean TeQ if minimum purchase volumes aren’t met. In addition, both companies will collaborate […]
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