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FIRB agrees to Yapo's deal with ASX-listed Mineral Resources for the Wodgina project
Oct 29,2019 17:50CST
translation
Source:SMM
FIRB has approved New York-listed Albemarle and ASX-listed ASX-listed Mineral Resources for trading on the Wodgina lithium project in Western Australia.
The content below was translated by Tencent automatically for reference.

SMM: FIRB has approved New York-listed Albemarle and ASX-listed ASX-listed Mineral Resources for trading on the Wodgina lithium project in Western Australia.

The two companies reached a $1.15 billion agreement in December under which Albemarle would acquire a 50 per cent stake in the Wodgina project and form a joint venture to develop, mine, process and produce lithium and other minerals at the Vogina project, in addition to iron ore.

However, ASX-listed Mineral Resources revealed that the deal was revised in August and that Yabao would receive a 60 per cent stake in the joint venture in exchange for $820 million in cash and a 40 per cent stake in its 25000 t / a lithium hydroxide conversion unit built in Kemerton, Western Australia.

With the approval of the FIRB, all conditions for the transaction have been met.

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