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Kali expands Pilbara lithium holdings, amends SQM JV

7th October 2024

By: Mariaan Webb

Creamer Media Contract Publishing Editor

     

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ASX-listed Kali Metals on Monday announced the acquisition of two new tenements - DOM’s Hill and Pear Creek – in the Pilbara region of Western Australia.

These tenements, which Kali is buying from major shareholder Kalamazoo Resources, are contiguous to the company’s existing tenement portfolio and increase its landholding in Pilbara by 129 km2.

Further, Kali said it had reached an agreement with SQM, the existing joint venture (JV) partner in its exploration projects in the Pilbara, to expand the area of the JV and amend the terms of the existing earn-in agreement.

The newly acquired tenements will be incorporated into the JV, with SQM set to spend at least A$500 000 on exploration by mid-December 2025 to retain its 20% interest in Kali’s DOM’s Hill and Pear Creek tenements.

SQM has increased its expenditure commitment to earn a 50% right by A$1-million, with A$4.25-million to be spent by December 15, 2026.

“Kali has enjoyed a successful working relationship with SQM in the Pilbara, and we look forward to exploring with SQM on our new and existing tenements,” commented MD Paul Adams.

Edited by Creamer Media Reporter

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