Kidman Resources Limited announced that it has entered a non-binding Memorandum of Understanding with LG Chem in relation to the supply of lithium hydroxide. The MOU contains commercial terms in relation to the supply of 12kt of lithium hydroxide per annum to LG Chem over a term of 10 years. Pricing is on arm's length terms set by reference to prevailing market prices, on a basis that will support the Company's proposed debt funding. The parties have agreed to work towards execution of a binding Strategic Supply Agreement by 31 July 2019. The other commercial terms of the MOU are confidential. As previously announced, Kidman's strategy is to secure offtake agreements with high quality counterparties for approximately 75% of its share of lithium hydroxide production for the initial years of the Mt Holland Lithium Project. The MOU with LG Chem represents approximately 50% of Kidman's share of lithium hydroxide production of 22.6kt per annum. Together with the offtake agreement announced with Tesla Inc. in May 2018, and the binding Heads of Agreement announced with Mitsui & Co. Ltd. in November 2018, the company now has arrangements in place that, once finalised, will cover the offtake volumes targeted by its strategy.