.IGO_Difference and TianqiLithiumAU have made a takeover offer for lithium developer Essential Metals CriticalMinerals growth acquisition mining resources Australia
PERTH – Battery minerals producer IGO on Monday announced that its lithium joint venture with Tianqi Lithium Corporation, Tianqi Lithium Energy Australia had made a A$136-million takeover offer for Western Australia-focused lithium explorer Essential Metals.
IGO on Monday said that the transaction would deliver significant benefits to TLEA, including building on its globally significant lithium business, diversifying and expanding the JV’s lithium portfolio in Western Australia while also securing additional lithium resources with the potential for continued growth through future exploration. The transaction will also offer TLEA entry into a highly prospective lithium province.
The scheme is subject to a number of conditions, including Essential shareholder approval at a scheme meeting scheduled for April.
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