SMM10 14: lithium miner Pilbara Minerals issued an announcement a few days ago, has completed the Ningde era of stock allocation, worth A $20 million.
The A $20 million investment is the first step in a A $55 million strategic investment plan for the Ningde era.
The second investment will then reach A $35 million, and once the second placement is completed, Ningde will own a stake in Pilbara Minerals8.5%.
As part of the previous agreement, the Ningde era has expressed its willingness to provide commercial support to Pilbara by buying spodumene concentrate.
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