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CRITICAL METALS AGREE TO BUY EUROPEAN LITHIUM FOR ABOUT $835 MILLION

  • NEWS Desk Global
  • Apr 27
  • 1 min read

U.S.-based miner Critical Metals has signed a letter of intent to purchase ​all outstanding shares of European Lithium in an about $835 ‌million deal, a move that would secure its full ownership of Greenland's Tanbreez rare earth project.

Shares of Critical Metals, which currently holds a 92.5% interest in ​one of the world's largest known rare earth deposits, jumped ​more than 6% after the announcement on Monday. Mining ⁠and development company European Lithium owns the remaining 7.5% in the ​project.

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