Huayou Cobalt to acquire an 87% stake in Prospect Lithium Zimbabwe from Prospect Resources for $378m.

Huayou Cobalt, a supplier of cobalt, agreed to acquire an 87% stake in Prospect Lithium Zimbabwe, which owns the Arcadia lithium mine project near Harare, from Prospect Resources, a battery minerals company, for $378m. "The entire Prospect team is delighted with this outcome. It is the culmination of a process that gained global traction and generated inbound interest amongst potential partners for the world-class Arcadia Lithium Project," Sam Hosack, Prospect Managing Director and CEO.