Pilbara Minerals (ASX:PLS) announced the signing of a lithium offtake agreement with Yahua.

This deal involves the supply of spodumene concentrate from Pilbara Minerals' fully-owned Pilgangoora operation.

The pricing of all spodumene concentrate volumes will be based on the prevailing market price.

The offtake agreement is set to begin in the calendar year 2024 (CY24) for a three-year term.

In CY24, Pilbara Minerals has agreed to supply, and Yahua will take the total supply of between 20KT to 80KT of spodumene concentrate.

The supply for CY25 and CY26 will be between 100KT to 160KT of spodumene concentrate.

Pilbara Minerals is a mining and exploration company focused on the development of lithium and tantalum projects.