32 C
Supported byspot_img

Talga and SQM collaborate to progress Aero Lithium Project in Sweden

Member of Europium Groupspot_img
Supported byspot_img

Talga Group has entered into an earn-in agreement with lithium leader Sociedad Química y Minera de Chile (SQM) to jointly advance the Aero Lithium Project in northern Sweden.

Under this agreement, SQM has the opportunity to earn up to a 70% interest in Aero by funding up to US$19 million ($28.52 million) in exploration expenditures over a seven-year period.

Talga, with a market capitalization of $216.45 million, will retain exclusive rights and responsibilities over graphite minerals at Aero, in addition to receiving a management fee at each stage of the earn-in process. Talga will also receive a success fee upon a decision to commence mining.

Supported by

Mark Thompson, Managing Director of Talga, emphasizes that partnering with SQM presents an opportunity to establish a European lithium supply crucial for the green transition.

“As one of the few potentially large-scale lithium hard rock opportunities in Europe, Aero holds significant promise for the region’s battery and electric vehicle industries,” Thompson notes.

Upon completion of the earn-in phase, both parties will contribute expenditures based on their participating interests or dilute accordingly under standard joint venture terms.

The agreement also fosters collaboration between Talga and SQM on prospective lithium areas and projects across Sweden, contingent upon clearance from Swedish foreign direct investment regulations.

Mark Fones, CEO of SQM, underscores the strategic importance of expanding into promising jurisdictions like Sweden and partnering with Talga, which has demonstrated expertise in the region.

“Talga Group focuses on developing sustainable battery materials through innovative technology and vertical integration of its wholly owned Swedish graphite resources.”

Supported byElevatePR Digital

Related News

Coal India expands into graphite mining with new license

Coal India Limited (CIL) is diversifying its operations beyond coal for the first time by entering the graphite mining sector. The Ministry of Mines...

Latin America’s chance to redefine mining and drive the global energy transition

Latin America's tumultuous relationship with mining dates back to the conquistadors' plundering of gold and silver for the Spanish crown. Following independence, the arrival...

U.S. faces critical mineral supply challenges: Urgent policy reforms required for energy security

The global shift towards electrified economies is redefining energy security, as the demand for essential metals like lithium, graphite, copper and rare earth minerals...

Cornish Metals finalizes $4.5 million royalty sale to focus on South Crofty tin project in UK

Cornish Metals Inc., a mineral exploration and development company focused on its 100% owned and permitted South Crofty tin project in Cornwall, UK, has...
Supported by
Supported by
Supported by
error: Content is protected !!