China’s Zijin Mining has completed the acquisi-tion of a 100% stake in Canada’s Neo Lithium Corp after more than three months of preparation. The finalisation of the deal comes as the Chinese group is readying to boost its presence in South America, Zijin Mining said in a statement.
“Zijin will soon launch the construction of the 3Q lithium brine project in Argentina, with the aim of putting Phase I of the project into pro-duction by the end of 2023,” the statement said.
The latest “transaction has been approved by the shareholders meet-ing of Neo Lithium. All approvals and filings required by Chinese and overseas regulators for the acquisition have been completed. The Environmental Impact Assessment … of the project has been ap-proved by the Environmental and Mining Authority in Catamarca Province, Argentina,” according to Zijin Mining.