https://newsletter.en.creamermedia.com
PROJECT|Projects|Technology
PROJECT|Projects|Technology
project|projects|technology

Australia's Galan Lithium declines $150m buyout bid for Argentine assets

The Hombre Muerto West project

Photo by Galan Lithium

3rd April 2025

By: Reuters

  

Font size: - +

Australia's Galan Lithium said on Thursday that it rejected an offer from Zhejiang Huayou Cobalt and Renault Group to acquire the lithium explorer's stake in its Argentine assets for $150-million in cash.

Galan Lithium described the offer as "opportunistic" and "undervalued", adding that it was for the purchase of the company's entire interest in the Hombre Muerto West (HMW) and Candelas projects in Argentina.

Shares of Galan were up 38.1% at A$0.145, as of 0111 GMT, while the broader benchmark index was down 1.5%. The stock climbed to its highest level since early January.

Last August, EnergyX, a lithium technology startup company, made a $150-million offer to purchase Galan's Argentine assets.

The Hombre Muerto West project, Galan's flagship project, is located near lithium projects and owned by Arcadium Lithium and Posco Holdings. Posco is an investor in EnergyX.

Edited by Reuters

Comments

Showroom

Avlock International
Avlock International

Avlock International is a leading manufacturer and distributor of Specialized Fastening Systems.

VISIT SHOWROOM 
Weir
Weir

Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 04 April 2025
Magazine round up | 04 April 2025
4th April 2025

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.174 0.262s - 168pq - 2rq
Subscribe Now