Armada ventures in US lithium market with Midwest acquisition
Sydney-headquartered Armada Metals has set its sights on the lithium market in the US. The company on Monday unveiled a binding term sheet agreement to acquire Midwest Lithium – a mineral explorer targeting hard rock lithium projects in South Dakota.
Armada nonexecutive chairperson Rick Anthon has described Midwest as a “transformative” opportunity for the company, offering drill-ready lithium pegmatite projects within permitted lands in the Black Hills region.
Midwest, an Australian entity, has positioned itself as a player in the US lithium landscape. Holding or having rights to acquire a 100% interest in more than 1 000 unpatented lode mining claims spanning about 93 km2 in the Black Hills region, Midwest’s footprint is significant. The company also has options to secure an additional six patented lode mining claims in the area.
The decision to pursue this acquisition comes at a time when the Black Hills region is experiencing a resurgence in lithium project exploration and development. Several companies, including Iris Metals, Patriot Lithium, and United Lithium, are actively engaged in exploring the area's lithium potential.
Armada believes Midwest Lithium's early mover advantage positions it strategically within this landscape.
Midwest was on the cusp of an ASX listing in October last year, with conditional approval in hand. However, market conditions, including a dip in spodumene prices, prompted the company to reevaluate its strategy, ultimately leading to the decision to forgo the initial public offering.
Anthon stressed that Armada remained committed to its existing projects in Africa, including the Nyanga project in Gabon and the Bend nickel project, in Zimbabwe.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...
VISIT SHOWROOM
We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
