Lithium miner Patriot Battery Metals receives about $83 mln investment from Albemarle

PMET Resources

01/08/2023 24:06

Aug 1 (Reuters) - Lithium miner Patriot Battery Metals
 PMET.V   PMT.AX  said on Tuesday it had entered into a
subscription agreement with Albemarle Corp  ALB.N  related to a
private placement of C$109 million ($82.6 million).
    At the closing of the investment, Patriot will enter into a
non-binding memorandum of understanding with Albemarle to study
the viability of a downstream lithium hydroxide plant integrated
with the Corvette lithium project.

($1 = 1.3189 Canadian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.Jain@thomsonreuters.com;))