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November 21, 2023
The farm-in agreement allows Rio Tinto to earn up to a 75 percent interest in the Lake Johnston project.
Charger Metals (ASX:CHR) farm-in agreement with Rio Tinto (ASX:RIO) for its Lake Johnston lithium project in the Yilgarn region of Western Australia, was highlighted in an article published on Australian Mining.
Charger Metals also signed an agreement to purchase Lithium Australia’s (ASX:LIT) minority interest in the project for $2 million. These deals will provide Charger with 100 percent ownership of the project, the article said.
According to Charger’s managing director Aidan Platel, the farm-in agreement reaffirms Lake Johnston Project’s potential to host a large-scale lithium deposit.
Charger chair Adrian Griffin also stated, “The Rio Tinto Exploration farm-in agreement will see them potentially spending up to $42.5 million to earn up to a 75 percent interest in the Lake Johnston project.”
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