Australia’s lithium market begins consolidation

Pilbara Minerals has announced that it has established a conditional agreement to acquire Altura Lithium’s operation, which puts it on the path to taking control of Altura’s Pilgangoora project.

Prior to Pilbara’s announcement it was reported that Altura had entered receivership, having become overburdened by its debt obligations.

The total purchase price announced by Pilbara is AUS $175 million — AUS $155 million upfront, with AUS$20 million delayed, the cash for which Pilbara will source from a future equity capital raise.

While . . .

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