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BRIEF-SolarWorld enters partnership with Bacanora Minerals for lithium mining in ore mountains
February 21, 2017 / 7:04 AM / 6 months ago

BRIEF-SolarWorld enters partnership with Bacanora Minerals for lithium mining in ore mountains

Feb 21 (Reuters) - SolarWorld AG

* Enters partnership for lithium mining in ore mountains

* Solar technology group will sell a share of 50 percent of its project in Altenberg-Zinnwald to Bacanora Minerals Ltd

* Under name Deutsche Lithium GmbH, future joint venture will be domiciled in Freiberg, Saxony, and operationally controlled by Bacanora Minerals and SolarWorld together

* New partner will earn its share of project in return for a cash consideration of 5 million euros ($5.29 million) and completion of a feasibility study on project, which will take approximately 18 to 24 months

* Bacanora Minerals will undertake all financial investments for project

* Partner has option to acquire outstanding 50 percent within a 24 month period for a mid double-digit million amount Source text for Eikon: Further company coverage: ($1 = 0.9446 euros) (Gdynia Newsroom)

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