Oil

Pilbara Minerals in deal for potential Altura lithium project buy

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.

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