Australia's Allkem hits 8-week high on agreement for Quebec lithium project

Core Lithium

15/12/2023 03:21

** Shares of Allkem  AKE.AX  rise as much as 6.3% to
A$10.690, their highest since Oct 20 
    ** The lithium miner, currently in the middle of a $10.6 bln
merger with U.S. lithium giant Livent  LTHM.N , signs an impact
benefit agreement with the Grand Council of the Cree Nation
Government and other parties
    ** Agreement is for the development and operation of James
Bay lithium project in Quebec 
    ** Other lithium miners also track prices of the battery
metals higher, with shares of Core Lithium  CXO.AX  rising 15.1%
and Delta Lithium  DLI.AX  up 5.3% 
    ** Allkem gained as much as 16.7% so far this week, and set
for best week since May 12, if current gains hold 
    ** Stock down 10.5% this year, as of last close
    

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))