ENERGY MINERALS

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.

Neo Lithium's 3Q projet in Catamarca, Argentina

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$318.9 million from proven and probable reserves...

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