...SQM is casting its net wide across the world. ...Aussie...

...SQM is casting its net wide across the world.

...Aussie lithium players ought to do likewise if they want to be Tier 1.

SQM to join Talga in Swedish lithium project

• Earn-in Agreement signed with SQM, world-leading lithium miner and producer, over Talga’s 100% owned Aero Lithium Project located ~30km east of Gällivare in northern Sweden
• SQM can earn up to 70% interest in Aero JV in stages for total US$19.0m expenditure
• Talga to manage project during earn-in period and retain 100% graphite rights

Battery materials and technology company Talga Group Ltd (“Talga” or “the Company” (ASX:TLG) is pleased to announce that it has entered into an Earn-in Agreement (“Agreement” with worldleading lithium miner and producer Sociedad Química y Minera de Chile S.A. (via its subsidiary SQM Australia Pty Ltd) (“SQM” (NYSE:SQM; SSE:SQM-B, SQM-A), over Talga’s Aero Lithium Project (“Aero” in Sweden. Under the binding Agreement, Talga has granted SQM the right to sole fund exploration expenditure of up to US$19.0m over the next 7 years on Aero for up to a 70% ownership interest in the project.

Talga also will be paid a management fee for each stage of the potential earn-in arrangement, and a success fee if a decision to mine on Aero is made. Talga retains all rights and obligations in relation to graphite minerals within Aero. SQM has completed extensive due diligence on Aero including site visits, and under the Agreement the parties may agree to collaborate on potential new lithium areas and projects in Sweden. The Agreement is subject to Swedish foreign direct investment clearance. Key terms of the Agreement are set out in Schedule 1 to this announcement.