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Mineral Resources hikes stake in Mount Marion lithium project to 50%

Mineral Resources Ltd. increased its equity stake in the Mount Marion lithium project in Western Australia's Goldfields region to 50% from 43.1% by paying A$51.9 million.

The company and Ganfeng Lithium Co. Ltd. agreed in December 2018 to jointly purchase Neometals Ltd.'s 13.8% equity interest in Mount Marion for A$103.8 million in cash.

Mineral Resources holds the interest through its Process Minerals International Pty. Ltd. subsidiary, according to a March 18 release.