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Zijin enters battery metals with Neo Lithium deal

Zijin Mining Group is to buy Neo Lithium in a C$6.50 per share all-cash deal valued at C$960 million, to obtain the Tres Quebradas, also called 3Q, lithium project in Catamarca, Argentina. The offer represents a 36% premium over Neo Lithium's 20-day volume-weighted average price as at October 8 and an 18% premium over its last close of C$5.49.

Zijin enters battery metals with Neo Lithium deal Zijin enters battery metals with Neo Lithium deal Zijin enters battery metals with Neo Lithium deal Zijin enters battery metals with Neo Lithium deal Zijin enters battery metals with Neo Lithium deal

Neo Lithium's 3Q projet in Catamarca, Argentina

Neo Lithium aims to initially produce 20,000 tonnes of battery grade lithium carbonate over a 35-year mine life following an initial capital investment of US$318.