Metallurgie News

Bacanora Lithium jumps on strategic deal with Ganfeng

Shares of Bacanora Lithium climbed more than 20 % on October 14 after the lithium developer closed a GBP 21.96 mill. strategic investment deal with Ganfeng Lithium. The Chinese producer will become its largest shareholder, with a 29.99 % stake in the London-based company and a 22.5 % joint venture investment in the Sonora lithium clay project. Ganfeng’s investment is set to boost Bacanora’s finance package for the development of the Mexico-based asset, which is forecast to produce an initial 17,500 t/a of lithium carbonate.