Lithium Australia negotiates for final stake in Envirostream
PERTH (miningweekly.com) – ASX-listed Lithium Australia has reached an agreement with mixed battery recycling company Envirostream for the acquisition of the final 10% of the company.
Lithium Australia already holds a 90% interest in Envirostream, and on Friday announced that it had agreed to indicative terms to acquire the remaining interest from Envirostream MD Andrew Mackenzie.
A purchase price of A$250 000 is being contemplated, and Mackenzie will continue as MD of Envirostream, following the completion of the acquisition.
Lithium Australia said on Friday that while no formal agreement had been struck, the tentative completion date of the transaction was March 1.
Lithium Australia in 2019 increased its stake in Envirostream to 90%, shortly after that company reported the first production of mixed metal dust from its Melbourne processing facility.
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