, Galan Lithium Limited reportedly announced that it had reached an asset acquisition agreement with Australia's lithium company to buy an 80 per cent stake in the Greenbushes South Lithium project.
The Greenbushes South lithium project is located 200km south of Perth and covers an area of 353square kilometers. It is adjacent to the Greenbushes lithium mine, which is now the largest hard rock lithium mine in the world. It was originally acquired by Australia Lithium and has been operated by Talison Lithium Pty since May 2014., Talison Lithium Pty is a joint venture between Tianqi Lithium Company (51%) and Albemarle Corporation (49%.
Galan already has a 100% interest in the exploration license application, which covers an area of approximately 43 square kilometers and is located 15 km south of the Greenbushes mine.