Chile is the world's second-largest producer of lithium.

The Jadar project could potentially produce 58,000 tons of lithium a year, starting in 2028.

The DRC’s state miner said it will need to approve any acquisition of cobalt producer Chemaf Resources if the new owner wants to take over a key mining permit.

Earlier this month, General Motors Co. investors rejected a similar proposal.

The Australian company has also secured two outstanding permits for the Goulamina lithium project, in southern Mali.

Macquarie sees a market recovery driven by strong demand from the steel sector.

The $2.4 billion Jadar lithium project could cover 90% of Europe's current lithium needs.