Stock Market News

Chilean miner Codelco gets access to books of Australia’s Lithium Power

2023.09.27 21:36


© Reuters. FILE PHOTO: The logo of Codelco is seen at their headquarters in downtown Santiago, Chile March 29, 2018. REUTERS/Ivan Alvarado/File Photo/File Photo

(Reuters) – Codelco will undertake due diligence on Australia’s Lithium Power International, the Chilean miner said on Thursday, but added that there is no certainty the discussions will lead to a definitive deal.

State-owned Codelco has been tasked to lead the initiative to kick-start Chile’s lithium industry as demand is set to boom with the uptake of electric vehicles.

Chile in April had announced plans to nationalize its lithium industry through a model in which it would hold a controlling interest in all projects, partnering with mining firms.

Lithium Power owns Chile’s largest permitted brine project Maricunga, among other projects in Pilbara, Western Australia and Argentina.

Shares of the Australian lithium developer were up 21.2% at A$0.32 in early trade.

Lithium Power had earlier in the day confirmed that it had opened its books to Codelco in a statement to Australia’s stock exchange in response to media speculation.

Codelco has been looking for lithium deals across the globe, and is likely to reach an agreement with lithium chemical maker SQM this year.

Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 75,960.35 1.57%
vested-xor
Vested XOR (VXOR) $ 3,405.08 99,999.99%
ethereum
Ethereum (ETH) $ 2,919.15 3.31%
tether
Tether (USDT) $ 1.00 0.01%
solana
Solana (SOL) $ 199.59 6.21%
bnb
BNB (BNB) $ 598.77 0.14%
usd-coin
USDC (USDC) $ 0.999999 0.02%
xrp
XRP (XRP) $ 0.549957 1.54%
dogecoin
Dogecoin (DOGE) $ 0.197862 3.03%
staked-ether
Lido Staked Ether (STETH) $ 2,916.94 3.32%
cardano
Cardano (ADA) $ 0.437195 17.63%
tron
TRON (TRX) $ 0.160594 0.78%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,451.04 2.95%
the-open-network
Toncoin (TON) $ 4.88 0.50%
shiba-inu
Shiba Inu (SHIB) $ 0.000019 2.18%
avalanche-2
Avalanche (AVAX) $ 27.48 1.24%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 75,834.32 1.41%
weth
WETH (WETH) $ 2,918.53 3.38%
chainlink
Chainlink (LINK) $ 12.81 3.33%
bitcoin-cash
Bitcoin Cash (BCH) $ 378.79 0.93%
sui
Sui (SUI) $ 2.31 2.53%
polkadot
Polkadot (DOT) $ 4.21 2.03%
leo-token
LEO Token (LEO) $ 6.33 3.40%
usds
USDS (USDS) $ 0.998978 0.61%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,068.89 3.28%
litecoin
Litecoin (LTC) $ 71.40 0.78%
uniswap
Uniswap (UNI) $ 8.86 1.06%
near
NEAR Protocol (NEAR) $ 4.22 0.81%
aptos
Aptos (APT) $ 9.72 1.12%
pepe
Pepe (PEPE) $ 0.000011 5.62%
bittensor
Bittensor (TAO) $ 507.08 3.16%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.42 2.20%
internet-computer
Internet Computer (ICP) $ 7.72 2.33%
dai
Dai (DAI) $ 0.999816 0.06%
monero
Monero (XMR) $ 164.46 1.37%
crypto-com-chain
Cronos (CRO) $ 0.110846 28.89%
stellar
Stellar (XLM) $ 0.101472 3.74%
ethereum-classic
Ethereum Classic (ETC) $ 20.19 0.02%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.17%
kaspa
Kaspa (KAS) $ 0.113617 4.58%
whitebit
WhiteBIT Coin (WBT) $ 19.63 2.06%
aave
Aave (AAVE) $ 181.17 1.09%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.343452 1.00%
blockstack
Stacks (STX) $ 1.66 1.68%
okb
OKB (OKB) $ 40.24 1.22%
first-digital-usd
First Digital USD (FDUSD) $ 0.999417 0.11%
dogwifcoin
dogwifhat (WIF) $ 2.33 0.77%
arbitrum
Arbitrum (ARB) $ 0.573594 0.62%
mantle
Mantle (MNT) $ 0.66289 7.64%
filecoin
Filecoin (FIL) $ 3.73 0.49%