Zijin Mining Group to acquire Neo Lithium for $763m.

Zijin Mining Group, a mining company, agreed to acquire Neo Lithium, a developer of lithium deposits, for $763m. The transaction is expected to close in the first half of 2022. "After a thorough strategic process, we are very pleased to provide this all-cash premium offer to our shareholders from a leading global mining company. This is the result of the collective work of our premier lithium brine exploration team, starting from initial discovery in late 2015 to defining one of the largest and highest-grade lithium brine deposits in the world, and culminating in this premium offer in just six years. We believe that it is now time for our project to proceed to the construction and production phases with Zijin," Waldo A. Perez, Neo Lithium President and CEO.