Charger Metals

Charger Metals Inks $42.5M Deal with Rio Tinto for Lake Johnston Lithium Project

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.”

Read the full article here.


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Rio Tinto Partners with Codelco to Develop Lithium Project in Chile

Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO)said on Monday (May 19) that it has signed binding agreements with Corporación Nacional Del Cobre de Chile (Codelco) to develop and operate a high-grade lithium project.

The asset is located in the Salar de Maricunga, a large lithium-containing resource base in Atacama, Chile. Its brine is said to have one of the highest average grades of lithium content in the world.

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European Metals Receives US$36 Million Grant for Cinovec Lithium-Tin Project

European Metals Holdings (ASX:EMH,LSE:EMH,OTCQX:EMHXY) confirmed the approval of a US$36 million Just Transition Fund (JTF) grant for its Cinovec lithium-tin project on Monday (April 28).

The JTF is run by the European Commission, supporting projects that align with the economic diversification and reconversion of concerned territories such as Bulgaria, the Czech Republic and Hungary.

JTF states on its website that the number of supported projects varies annually, depending on the proposals. The grant also forms part of the European Union’s efforts to transition to clean energy and achieve climate goals.

Cinovec was chosen as it was designated as a strategic project under the Critical Raw Minerals Act in March, underlining its importance in Europe’s journey toward securing stable supply of critical raw minerals. It was also declared a strategic deposit by the Czech government, a designation that accelerates certain permitting processes.

"The grant funding will be utilised to fast track a number of critical path items with regards to the Cinovec Project,” commented European Metals Executive Chair Keith Coughlan in a press release. “This confirmation builds on recent project momentum and is another clear indicator of the support the European Union and the Czech government is willing to provide to assist in getting Cinovec into production in the timeliest manner possible."

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