Oil

Pilbara Minerals in deal for potential Altura lithium project buy

Lithium miner Pilbara Minerals Ltd on Wednesday said it had entered into a conditional agreement for the potential acquisition of Altura Mining Ltd's lithium project for about $175 million.

Oct 28 (Reuters) - Lithium miner Pilbara Minerals Ltd PLS.AX on Wednesday said it had entered into a conditional agreement for the potential acquisition of Altura Mining Ltd's AJM.AX lithium project for about $175 million.

The agreement with the senior secured loan noteholders of Altura provides Pilbara with a path to potentially acquire the project through the purchase of shares in Altura Lithium Operations Pty Ltd, the company said.

Pilbara Minerals earlier in the day halted trading.

(Reporting by Nikhil Subba in Bengaluru; editing by Jason Neely)

((Nikhil.Subba@thomsonreuters.com; Reuters Messaging: Nikhil.Subba.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest Oil Videos

    Oil Holds Above $80 as Global Power Crunch Tightens Demand

    Crude oil prices remain above $80 per barrel amid expectations that a widening global power crisis will continue to lift demand. Bloomberg’s Helen Robertson reports.

    Oct 12, 2021

    Reuters

    Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

    Learn More