PERTH (miningweekly.com) – ASX-listed Neometals has inked an agreement to acquire the lithium rights of the Mt Edwards project, in Western Australia, for A$2.5-million.
The Mt Edwards project is some 40 km south of the Mt Marion lithium project, in which Neometals holds a 13.8% interest.
As part of the acquisition, Neometals will also acquire the underlying tenure to all of the tenements comprising the Mt Edwards lithium project, together with some neighbouring tenements and the nickel rights on an adjoining nickel rights package.
“This acquisition will increase and broaden our lithium asset base and, subject to exploration success, will potentially provide a second source of spodumene production enabling an integrated lithium business to grow in size and scale. Our strategy is to integrate to move down the cost curve then scale the business up to meet the demand of the next decade,” said Neometals MD Chris Reed.