IGO Group and Chinese company Tianqi want to spend $136 million muscling into a second lithium province in Western Australia.The companies, which have acted in partnership on lithium matters since late 2020, agreed to pay $136 million to acquire lithium explorer Essential Metals under a plan to get a foothold in the lithium production zone between Kalgoorlie and Norseman.
Established lithium mines already exist close to Pioneer Dome; the Mt Marion mine that Chris Ellison’s Mineral Resources shares with Chinese company Ganfeng is about 75 kilometres north.
Will be interested to see if they look at this Widgie deposit next?
WIN Price at posting:
36.5¢ Sentiment: Buy Disclosure: Held
