Chile's Codelco reaches deal to buy Lithium Power for $244 mln

Lithium Power International

17/10/2023 23:41

SANTIAGO, Oct 17 (Reuters) - Chile state miner Codelco
 COBRE.UL , the world's largest copper producer, has reached a
deal to buy Lithium Power International  LPI.AX  for 385 million
Australian dollars (around $244 million), the companies said on
Tuesday.
    The deal comprises a cash offer of 0.57 Australian dollars
per share for the Australian firm, which owns Chile's Blanco
project in the Maricunga salt flat, near Codelco's own
properties.
    
($1 = 1.5711 Australian dollars)

 (Reporting by Natalia Ramos; Editing by Valentine Hilaire)
 ((sarah.morland@thomsonreuters.com;))