IGO, a copper ores company, and Tianqi Lithium, a Chinese mining and manufacturing company, agreed to acquire Essential Metals, a mining exploration company focused on finding and producing lithium and gold, for $94m. "We believe this transaction is a great outcome for Essential shareholders and for other stakeholders including employees, suppliers, the Ngadju people and the State of Western Australia, all of whom will benefit from the Pioneer Dome Lithium Project being developed by a large, well financed and experienced lithium sector participant as is TLEA," Tim Spencer, Essential Managing Director.