Eramet reaches agreement to continue SLN’s New Caledonia operations
Its nickel subsidiary SLN is locked in a dispute with local authorities over financial guarantees.
Its nickel subsidiary SLN is locked in a dispute with local authorities over financial guarantees.
The precious metals producer saw profits tumble $2 billion last year due to lower metal prices and a reported $2.6 billion of impairments.
Parent company Anglo American prompted the speculation in February when CEO Duncan Wanblad said "nothing is off the table".
The red metal has rallied about 15% in the last two months.
The deal will propel the combined group to become a mid-tier gold miner producing around 400,000 ounces of gold a year.
The deal values the lithium miner at A$1.7 billion ($1.1 billion).
Many current and upcoming energy storage and electronic devices depend on intercalated materials.
Talks between the two sides on a trade pact collapsed last year with Canberra unhappy over access to EU markets for its farm goods.
World’s 50 biggest miners had a combined market capitalization of just under $1.4 trillion, with losses at the very top offsetting a banner quarter for gold and copper stocks.
The EU is set to implement its law on forced labour this year.