May 16, 2018 / 11:14 PM / 8 days ago

Australia's Kidman Resources to supply lithium hydroxide to Tesla Inc

May 17 (Reuters) - Australian lithium miner Kidman Resources said on Thursday it has entered into a binding agreement to supply lithium hydroxide to electric car maker Tesla Inc.

The deal is for an initial three-year term on a “fixed-price take-or-pay basis” from the first product delivery, and contains two three-year term options, the company said in a statement.

Kidman said it was also in talks with other strategic, globally significant parties seeking refined lithium offtake.

Reporting by Aaron Saldanha in Bengaluru; editing by Richard Pullin

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