ASX:A11

4 stories mentioning ASX:A11

Every FINWIRES story that references ASX:A11, newest first.

Elevra Lithium to Sell Ghana Lithium Project Stake to Zhejiang Huayou Cobalt

Elevra Lithium (ASX:ELV) agreed to sell its interest in the Ewoyaa Lithium Project in Ghana to Zhejiang Huayou Cobalt for around $71 million in cash before fees and taxes, according to a Monday Australian bourse filing.The deal transfers all of the company's project rights, including offtake rights, enabling it to withdraw from its funding commitments and streamline its portfolio to focus on North American assets, per the filing.The completion is expected in the first quarter of fiscal 2027, subject to regulatory approvals in Ghana.The proceeds from the transaction will strengthen the company's financial flexibility and support its growth initiatives, enhancing long-term shareholder value, the filing said.Huayou is also acquiring Atlantic Lithium's (ASX:A11) wider stake in the Ewoyaa Lithium Project through a separate scheme agreement worth about $210 million in cash, although Elevra's deal does not depend on this transaction, the filing added.

ASX:A11ASX:ELV

US Markets38d ago

China's Huayou to Purchase Australian Miner Amid Lithium Demand

Zhejiang Huayou Cobalt (SHA:603799) will purchase Australian miner Atlantic Lithium (ASX:A11) and its lithium assets in Ghana for about $210 million.The purchase comes as the war in Iran could raise demand for lithium, a key component in electric vehicle batteries, Nikkei Asia reported separately on Friday.Huayou will purchase the shares through a scheme of arrangement of $0.25486 per share, equivalent to 26.6% premium to Atlantic Lithium's last close of AU$0.280 per share, according to a filing with the Australian Securities Exchange on Thursday.South African company Assore International, Atlantic Lithium's largest shareholder, will vote in favor of the proposal.Atlantic Lithium, together with Elevra Lithium (ASX:ELV), control the Ewoyaa lithium mine in Ghana, which is expected to produce 3.6 metric tons of spodumene concentrate, a high-purity lithium aluminum silicate, over a mine life of 12 years, according to a previous announcement.The purchase "acknowledges Ewoyaa as a highly attractive hard rock lithium asset capable of serving the growing global electric vehicle and energy storage markets," Atlantic Lithium CEO Keith Muller said."The acquisition of the Ewoyaa Lithium Project complements our existing battery metal mining operations in Africa and represents a logical transaction for Huayou as we continue to build a new energy materials business," Chairman Chen Hongliang said.While cobalt is Huayou's main product, the Chinese miner also produces lithium, with sales rising 12% to 3.44 billion yuan, Nikkei reported.Huayou is the owner of the Arcadia lithium mine in Zimbabwe, the newspaper said.Shareholders in the Australian mining company will vote on the scheme in November, with the transaction expected to close in December, according to Atlantic Lithium.

ASX:A11ASX:ELVSHA:603799

Asia38d ago

Update: Atlantic Lithium Enters Scheme Implementation Deed With China's Huayou Cobalt; Shares Up 11%

(Updated to include Huayou Cobalt's ticker symbol)Atlantic Lithium (ASX:A11) entered into a binding scheme implementation deed with China-based battery manufacturing firm Zhejiang Huayou Cobalt (SHA:603799) for the acquisition of all of the issued shares in the company through a scheme of arrangement at $0.25486 apiece, according to a Thursday filing with the Australian bourse.The all-cash scheme consideration values the company at about $210 million, the filing said.The board unanimously recommended that shareholders vote in favor of the scheme, in the absence of a superior proposal and subject to an independent expert continuing to conclude that it is in the best interests of shareholders, per the filing.Atlantic Lithium shares rose 11% in afternoon trade on Thursday.

ASX:A11SHA:603799

Asia39d ago

Atlantic Lithium Enters Scheme Implementation Deed With China-Based Battery Manufacturing Company; Shares Up 11%

Atlantic Lithium (ASX:A11) entered into a binding scheme implementation deed with China-based battery manufacturing firm Zhejiang Huayou Cobalt for the acquisition of all of the issued shares in the company through a scheme of arrangement at $0.25486 apiece, according to a Thursday filing with the Australian bourse.The all-cash scheme consideration values the company at about $210 million, the filing said.The board unanimously recommended that shareholders vote in favor of the scheme, in the absence of a superior proposal and subject to an independent expert continuing to conclude that it is in the best interests of shareholders, per the filing.Atlantic Lithium shares rose 11% in afternoon trade on Thursday.

ASX:A11