The deal hands Omnia key assets, including the Phoenix and the Torp Lake lithium projects, which expand its footprint to more than 625 km2.

The miner removed de Montessus after discovering an alleged “irregular payment instruction” of $5.9 million related to an asset sale.

Australia, which mined about half the world’s lithium in 2022, forecasts the spot price of spodumene will fall to $2,200 per tonne in 2025.

The removal of Sébastien de Montessus follows an investigation by the board into an irregular payment instruction of $5.9 million issued by him.

Through the newly formed Minera El Encierro, the companies will carry out exploration for five years in a property comprising 35 concessions.

Uranium hit $91 per lb. this week, another record since triple-digit prices in 2007.

On September 20, 2021, a worker stepped into an uncovered floor opening at the company's facility near Rocanville.