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Recently, LG Energy Solutions, a subsidiary of LG Chem, announced that it has signed a binding lithium hydroxide supply agreement with Australian lithium miner Vulcan Energy Resources
.
According to the agreement, Vulcan Energy Resources will supply battery-grade lithium hydroxide to LG Energy Solutions
LG Energy Solutions is a new company that was spun off from LG Chem in December last year and is specifically responsible for the battery business
.
After the spin-off, LG Chem holds a 100% stake in the new company