Earth AI, Legacy Minerals make first greenfield palladium discovery using artificial intelligence
The companies announced the verified discovery of one of the largest palladium mineral systems in Australia.
Australian lithium major Allkem said on Thursday that it has received, or will soon receive, the necessary competition and foreign investment approvals for its planned $10.6 billion merger with Livent.
The merger, announced in May, is expected to close around the end of 2023 and will create Allkem Livent, the world’s third-largest producer of the metal used to make electric vehicle batteries.
Allkem said it is awaiting approvals from certain regulators, both companies’ shareholders and Australian courts, and that the necessary paperwork has been filed with the US market regulator.
The company’s shares rose as much as 4.4% to A$11.815 as of 0242 GMT and was on track for its best day in over a month.
Livent did not immediately respond to a Reuters request for comment.
(By Rishav Chatterjee; Editing by Savio D’Souza)
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