As part of the deal, the Lundin Family Trust also agreed increase its stake in the company from 17.7% to 19.9%.
The world’s single biggest buyer of copper, State Grid Corp. of China, has slowed its purchases of copper wire this year.
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.
