St George finds lithium partner
PERTH (miningweekly.com) – Junior St George Mining will partner with battery giant SVOLT to hunt for lithium projects.
The two companies have signed a memorandum of understanding (MoU) to consider collaboration on the development of the Mt Alexander lithium project, in Western Australia, as well as the acquisition of other lithium projects and lithium business opportunities.
“We are delighted that SVOLT has recognised this tremendous growth opportunity at Mt Alexander, located in the heart of Western Australia’s newest hard rock lithium province,” said St George executive chairperson John Prineas.
“Our strategic relationship with SVOLT will strengthen our capacity to accelerate exploration and development at the project, particularly through the provision by SVOLT of technical advice for the marketing of lithium products as well as the potential provision of development funding.
“Under the strategic relationship, we will also consider new project generation in Western Australia creating another potential growth engine for our respective companies.”
Under the terms of the MoU, SVOLT will invest up to A$5-million in St George by way of a share placement, subject to the agreement on pricing and the completion of due diligence.
The MoU also covers offtake agreements where SVOLT will secure up to 25% of the potential spodumene concentrate from the Mt Alexander lithium project, with SVOLT to also supply funding support to St George for the development of other lithium projects. The two companies could also potentially joint venture to acquire and develop new lithium projects.
The MoU has an initial two-year term.
Comments
The
functionality
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation