The Greenbushes mine in WA’s south-west region. Credit: Talison Lithium
ASX-listed Lithium Australia has entered into a joint venture with Galan Lithium that sees the latter pick up an 80 per cent stake in the Greenbushes South lithium project from Lithium Australia. As a result of the JV deal, Lithium Australia retains a 20 per cent free carried exposure to the lithium commodity while also freeing up cash to advance its downstream and battery technology projects.
Greenbushes South sits only about 3km south of WA’s world-class Greenbushes lithium open-cut mine, one of the world’s largest, highest-grade hard-rock spodumene deposits.
Under the terms of the dynamic duo’s transaction, Perth-based Galan Lithium has agreed to issue 1.22 million of its shares to Lithium Australia and sole-fund work on the project, which spans 353 square kilometres, through to the completion of a preliminary feasibility study.