June 23, 2022 |
Canadian gold and lithium miner Ultra Lithium said it reached a deal to sell a 65% stake in its Argentine subsidiary to China's Zangge Mining Investment for $50 million, bringing in fresh funds to move ahead with a brine lithium project in Argentina.
Zangge will pay $10 million for the stake in Ultra Argentina and invest the remaining $40 million in the Laguna Verde project in the northwestern province of Catamarca, Ultra Lithium said in a press release.
Exploration studies have found that Lagun
Zangge buys 65% of Ultra Lithium's Laguna Verde project for $50 mln