He has been given more time to make a firm offer or walk away from a deal to buy out minority shareholders in Vedanta Resources for 778 million pounds ($1 billion).
Billionaire Anil Agarwal in July said he planned to offer around $1 billion to take London-listed Vedanta Resources Plc private, a move that has rekindled speculation his ultimate aim is a deal with miner Anglo-American.
The president of Peru’s National Society of Mining, Petroleum, and Energy said the project will create 9,000 jobs during its construction phase and additional 2,500 once it goes into production.
The expansion, on top of a $238 million upgrade due for completion in April, will double the mine’s production to 1.95 million tonnes a year of lithium concentrate a year from 2020.
Adani is looking to buy mines in countries such as Indonesia and is securing financing for its Carmichael mine in Australia amid challenges from environmental groups concerned about climate change and potential damage to the Great Barrier Reef.