18 October 2023
18 October 2023
The Anglo-Australian mining giant’s share price rose despite the news thanks to strong performances in copper and aluminium.
The decision will impact 1,000 jobs at Mount Isa Mines.
The Alouana copper-gold project in Morocco has a historical context, as small-scale mining took place in the last century.
Capella’s copper-cobalt assets covered under the deal include the Hessjøgruva, Kjøli and Løkken projects.
LPI shareholders are scheduled to vote on the deal at a meeting in January next year.
Battery Minerals will issue 15 million shares, each valued at A$0.04, as well as 40 million options and a 2.5% net smelter royalty as a consideration.
The Wray Mesa project comprises 308 unpatented lode claims, covering a total area of 6,282 acres.
Due to be commissioned in 2025, the proposed plant will have the capacity to produce 120,000 tonnes of lithium iron phosphate (LFP).
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Within the rare earth metals market, cerium is projected to account for the largest volumetric share followed by lanthanum, neodymium, and others in 2023. The demand dynamics for neodymium is estimated to remain strong as the sale of electric vehicles continue to flourish across the globe. The product is deployed in the manufacturing of magnets including low and high performance and is an integral part of the modern-day technology assembly from automotive vehicles to fighter jets.
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