"In consideration for the acquisition of a 50% joint venture interest in the Mt Holland Lithium Project, SQM will make payments of US$110 million (A$146.67 million); comprising a cash payment of US$30 million (A$40 million) to Kidman, and a staged payment of US$80 million (A$106.67 million) to fund the initial costs of the development of the Mt Holland Lithium Project."
Basically, SQM are getting 50% of the project for putting in $146m to make it happen.
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- Ann: Kidman and SQM to form Mt Holland JV
Ann: Kidman and SQM to form Mt Holland JV, page-13
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