Rio Tinto hails another step closer to develop Serbian lithium mine
If developed, the $2.4 billion Jadar lithium project in Western Serbia could cover 90% of Europe's current lithium needs.
Critical minerals explorer Stelar Metals (ASX: SLB) has completed the acquisition of mining tenements in New South Wales, Australia, which include the Trident Lithium project.
The deal with the state government grants Stelar Metals a 90% ownership of the land, which hosted tin and tantalum mining for decades and is known to contain lithium-caesium-tantalum (LCT) pegmatite formations.
The Trident acquisition adds to the Midas and Perseus projects Stelar already holds within the Euriowie Pegmatite Field.
The company will now ramp up hard-rock lithium exploration in New South Wales, while its works through the approval processes with an aim to begin a drilling program in the third quarter of 2023.
The initial exploration work is planned to confirm pegmatite orientation and lithium fertility before the company embarks on a deeper, more comprehensive drill program to evaluate lithium resource potential.
There has been a flurry of activity in the lithium sector this year, with the merger between Allkem and Livent, which created the world’s third largest lithium producer, heading the list.
In March, Liontown Resources (ASX: LTR) rebuffed a $3.7 billion (A$5.5bn) buyout bid from Albemarle, after turning down two previous offers by the US producer since.
Tecpetrol Investments in June launched an all-cash buyout bid for Canada’s Alpha Lithium (OTCMKTS: APHLF), which is active in the Tolillar and Hombre Muerto salt flats in Argentina.
Canada’s Lithium One Metals (TSX-V: LONE) followed with an announcement of its planned merger with Norris Lithium Inc. (CSE: CHCK).
