The inclusion of the Canadian agency would not increase the level of potential project financing for the project in Argentina.

Piedmont has already spent $58 million on the project, which would produce about 30,000 tonnes of lithium annually.

The Chinese battery maker will acquire Millennial at a price of C$3.85 per share, a premium of 6.9% over the offer by Ganfeng.

The contract, signed in 2008, promised a $3.2 billion investment by China in a copper/cobalt mine and another $3 billion worth of infrastructure projects.

Australia is a major supplier of critical minerals, such as nickel, copper and cobalt.

GreenRoc issues 111.2 million shares at 10p each and expects a market capitalization of £11.1 million upon AIM admission.