https://www.miningweekly.com
Engineering|Mining|PROJECT
Engineering|Mining|PROJECT
engineering|mining|project

Zijin Mining makes C$960m all-cash offer for Neo Lithium Corp

10th October 2021

By: Creamer Media Reporter

     

Font size: - +

Chinese multinational Zijin Mining Group has made an all-cash offer to buy out TSX-listed Neo Lithium Corp for C$6.50 a share, or about C$960-million.

Neo Lithium holds a 100% interest in the 3Q lithium brine lake project in Argentina. The project comprises 13 mining claims over a 353 km2 area.

Zijin reports that Neo Lithium had completed a prefeasibility study (PFS) on the project in 2019. The PFS was updated in April this year.

According to the PFS, the project is expected to produce about 20 000 t/y of battery-grade lithium carbonate over a 35-year mine life.

The project will require an estimated $319-million in capital expenditure. The PFS estimates an net present value of $1.14-billion, an internal rate of return of 49.9% and a 1.7-year payback period.

Zijin notes that Neo Lithium is working with engineering company Worley on a definitive feasibility study for the 3Q project, which is expected to be completed in the fourth quarter.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Rio-Carb
Rio-Carb

Our Easy Access Chute concept was developed to reduce the risks related to liner maintenance. Currently, replacing wear liners require that...

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

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:0.106 0.142s - 89pq - 2rq
Subscribe Now