https://www.engineeringnews.co.za

European Lithium sells non-core asset

12th July 2023

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Lithium developer European Lithium has announced plans to sell its noncore assets in Western Australia.

The company has signed a binding term sheet for its full interest in the E47/4111 tenement in Western Australia with Moosh Moosh, and will receive A$1-million in cash or equivalent shares in an ASX-listed company, as well as a 1% net smelter royalty on minerals extracted from the tenement.

The sale will likely be completed by the end of September this year.

“The sale of our noncore Australian tenement aligns with our strategy to focus our attention on securing battery commodities for Europe’s green energy transition,” said European Lithium chairperson Tony Sage.

The company is currently developing the Wolfsberg lithium project, in Austria, which is expected to require a capital investment of $873-million to support an 8 800 t/y lithium hydroxide monohydrate production rate over a mine life of nearly 15 years, with operating costs estimated at $19 409/t before by-product credits.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

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

Showroom

Axiom Hydraulics
Axiom Hydraulics

Axiom Hydraulics is a trusted leader in South Africa’s hydraulic industry, delivering world-class components, systems, and engineering expertise...

VISIT SHOWROOM 
Egoli Gas (Pty) Ltd
Egoli Gas (Pty) Ltd

As a reticulator, Egoli Gas provides natural gas to homes and businesses via underground pipes.

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







301

sq:0.05 1.086s - 140pq - 2rq
Subscribe Now