Zijin Mining Group Plans to Acquire a lithium salt producer Neo Lithium by Spending 5 Billion yuan

SHANGHAI, Oct 9 (SMM) - Canadian lithium salt company Neo Lithium disclosed an announcement on October 9 that Zijin Mining has agreed to acquire all the issued shares of Neo Lithium at C$6.50 per share.

The total consideration is about C$960 million (approximately 4.96 billion yuan). The transaction price represents a 36% premium to the company's 20-day MA price. Neo Lithium 3Q lithium salt lake project is one of the largest and highest-grade projects of its kind in the world.