As part of the deal, the Lundin Family Trust also agreed increase its stake in the company from 17.7% to 19.9%.
If developed, the $2.4 billion Jadar lithium project in Western Serbia could cover 90% of Europe's current lithium needs.
Bullion is now 18% higher for the year, boosted by anticipation of Fed loosening as well as significant buying by central banks.
Environmental campaigners are challenging the approval of a coking coal mine in northwest England.
