Mineral Resources in $1.58b deal to sell stake in lithium project

Company News

by Rachael Jones

Mineral Resources (ASX:MIN) has entered into an agreement with New York Stock Exchange-listed battery metals company Albemarle to sell a half share in its Wodgina lithium project.

Purchase price is $1.58 billion.

They expect to finalise the deal within weeks.

Mineral Resources (ASX:MIN) and Albemarle will form a 50-50 joint venture to own and operate the hard rock mine and eventually an integrated lithium hydroxide plant.

Shares in Mineral Resources (ASX:MIN) trading 24.1 per cent higher.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.