Hancock and SQM to acquire Azure for $1.1bn.

Hancock, an Australian owned mining and agricultural business, and SQM, a chemical company and a supplier of plant nutrients, iodine, lithium and industrial chemicals, agreed to acquire Azure, a mineral exploration company, for $1.1bn. “The Transaction delivers a fantastic outcome for Azure shareholders, including a significant uplift in value from the Original SQM Transaction despite elevated market volatility and the recent deterioration in lithium prices. The Transaction also represents a great outcome for wider stakeholders in Andover, who will benefit from the significant financial strength and expertise of one of Australia’s largest and most wellrespected mining and exploration companies, Hancock, combining with SQM to oversee the successful development of Andover. We encourage all Azure shareholders to support the Transaction,” Tony Rovira, Azure Managing Director.