https://www.miningweekly.com

Lithium Americas to buy Arena Minerals in deal valued at $227m

20th December 2022

By: Reuters

  

Font size: - +

Lithium Americas Corp said on Tuesday it would buy all the shares of Arena Minerals it does not already own in a deal that values Arena at $227-million, giving the Canadian miner additional access to the Pastos Grandes basin in Argentina.

Prices of lithium have more than doubled this year, after an explosive rally in 2021, even after increased supply of the metal used in making batteries crucial to renewable energy transition continues to chase demand.

The deal, expected to close in the third quarter of 2023, would help integrate two neighbouring projects operated by the companies in Pastos Grandes basin.

"The significant synergies between our two projects and a better understanding of the basin will enable us to advance development planning and maximize our growth pipeline in Argentina," said Jonathan Evans, CEO of Lithium Americas.

Edited by Reuters

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Sweet-Orr
Sweet-Orr

Sweet-Orr, established in 1871, is a global leader in superior protective workwear, known for quality, innovation, and performance.

VISIT SHOWROOM 
SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.053 1.008s - 128pq - 2rq
Subscribe Now