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.