Shares surged by 15% after the company announced that it is reviewing a number of strategic approaches, marking the latest sign of rampant dealmaking in the sector.

Due to competition, winning bids often end up being over 1,000 times the starting price.

In April, Prime Minister Trudeau said the economic impact of one of the projects would be equal to the value of government investment in less than five years.

Opposition to mining projects in Europe has focused on environmental damage.

Albemarle will receive $90 million for its forthcoming reopening of the Kings Mountain lithium mine.

In addition to recommending royalties of 4% to 8%, it advocated for moving to a system of leasing federal lands for mining.

The miner employs more than 1,100 workers in the South American country.

The agreement gives LithiumBank a full licence to use a group of continuous ion-exchange technologies in Alberta and Saskatchewan.