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Energy|PROJECT
Energy|PROJECT
energy|project

CNGR receives Chinese approvals to buy Lithium Energy’s Solaroz project

3rd June 2024

By: Creamer Media Reporter

     

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CCNET, a subsidiary of China-listed CNGR Advanced Material Co, has received Chinese regulatory approvals to acquire Australian junior Lithium Energy’s 90% interest in the Solaroz lithium brine project in Argentina.

CCNET will buy the project for $63-million in cash.

Completion of the sale still remains conditional on Lithium Energy shareholder approval. A special meeting will be held in late July.

The Solaroz project comprises 12 000 ha of lithium mineral concessions in the Salar de Olaroz basin. Lithium Energy shares the lithium rights in the basin with producers such as Arcadium Lithium and Lithium Argentina.

Edited by Creamer Media Reporter

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