From the Hancock Prospecting website.....The deal was struck...

From the Hancock Prospecting website....

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The deal was struck amid speculation India would join forces with Hancock, and potentially others in lithium ventures in WA, since May when executives from the government-owned NMDC visited WA for meetings and site visits with lithium processors. Representatives also called in at Hancock’s Roy Hill iron ore mine.

NMDC first took a stake in Mt Bevan, about 250 kilometres north of Kalgoorlie, in 2001 when it grabbed a majority share in Legacy.

Its latest visit was followed by a private meeting between Mrs Rinehart and Mr Modi in Sydney where they discussed increased co-operation on mining and critical minerals.

The India-backed agreement with Hancock is believed to represent the first major undertaking to be inked since the Indian prime minister’s visit. India is aiming for electric vehicles to make up 30 percent of all new car sales by 2030 and needs lithium to have any hope of hitting that target.

Mr Manchanda indicated the Mt Bevan agreement was just part of a series of new resources developments on the horizon.

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