Liontown clinches Canmax deal: key details for investors

Liontown has struck an offtake deal with Canmax for its spodumene concentrate, bolstering customer diversification plans.

Laura Stewart

Author bio Laura Stewart is a Finance Editor at The Motley Fool, where she covers Australian and international equity markets. She joined the company in 2022, following a career transition from legal advisory work in Southeast Asia into the investment industry. Prior to her current editorial role, Laura spent three years as an Equity Analyst and Writer, producing investment research across the ASX, NYSE, and NASDAQ. Her coverage included small-cap growth companies, thematic investment ideas, and high-quality U.S.-listed businesses. Laura holds a Master of Applied Finance and brings additional expertise in accounting, taxation, and estate and wealth planning from her postgraduate studies. She also has a background in law and communications, which supports her analytical and reporting work in financial markets. Outside of work, she enjoys spending time in the Adelaide Hills with her flock of sheep. Education Laura holds a Bachelor of Laws, a Bachelor of Communication (Journalism), and a Bachelor of Commerce with majors in Accounting and Corporate Finance. In 2025, she completed a Master of Applied Finance at the University of Adelaide, receiving postgraduate awards in Accounting Concepts & Methods, Ethical Principles in Accounting & Finance, Real Estate Valuation & Investment, and Tax, Estate & Wealth Planning. Social media LinkedIn FYI – I am taking a break from social media at the moment, so this account isn’t active at the moment, but I will let you know when I rejoin. Favorite investment quote "Compound interest is the eighth wonder of the world. He who understands it, earns it... he who doesn't... pays it." — Albert Einstein

Published December 9, 2025 10:16 am AEDT

The Liontown Ltd (ASX: LTR) share price is in focus today after the company announced a binding offtake agreement with Canmax Technologies. Under the deal, Liontown will supply 150,000 wet metric tonnes of spodumene concentrate each year in 2027 and 2028, with pricing to track global spodumene index movements.

Two company members shaking hands on a deal. — Image source: Getty Images

What did Liontown report?

Signed a binding offtake agreement with Canmax Technologies Co., Ltd.
Supply of 150,000 wet metric tonnes of spodumene concentrate per year for 2027 and 2028
Pricing linked to industry spodumene concentrate indices
Agreement adds to Liontown's existing customer arrangements and broadens geographic reach

What else do investors need to know?

This offtake agreement reinforces Liontown's strategy to diversify its customer base by both location and industry. The deal follows Canmax's recent participation in Liontown's 2025 institutional placement, deepening ties between the two companies.

Canmax, listed on the Shenzhen Stock Exchange, is one of the leading producers of lithium chemicals globally. This partnership positions Liontown to further participate in the battery value chain and enhances supply certainty for its Kathleen Valley project output.

What did Liontown management say?

Tony Ottaviano, Managing Director and CEO of Liontown said:

We are pleased to execute an Offtake Agreement with Canmax, one of the world's leading lithium chemicals companies. Their participation in our 2025 institutional placement signalled strong confidence in the long-term potential of Kathleen Valley, and this Offtake Agreement reinforces their commitment. Securing sales linked to spodumene concentrate indices coupled with continuing our strategy of platform based spot sales ensures we realise fair value for the products we produce.

What's next for Liontown?

Liontown continues to build a platform of tier-one customers and is focused on expanding its lithium portfolio in Western Australia. The company aims to further develop strategic partnerships and explore downstream opportunities to strengthen its competitive advantage.

Ongoing efforts include pursuing additional offtake agreements and exploring new acquisitions or partnerships that can support the long-term growth and sustainability of its operations.

Liontown share price snapshot

Over the past twelve months, the Liontown share price has risen 149%, significantly outpacing the S&P/ASX 200 Index (ASX: XJO) which has climbed around 2% over the same period.

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