Lithium miner Liontown soars as it snubs US$3.7bil Albemarle bid

Liontown controls two major lithium deposits in Western Australia, including its flagship Kathleen Valley project, slated for first production in mid-2024, which is among the world’s largest and highest-grade hard rock lithium deposits. — Bloomberg

MELBOURNE: Australia’s Liontown Resources says it knocked back an approach from the world’s biggest lithium producer Albemarle Corp yesterday that valued the lithium developer at A$5.5bil (US$3.7bil or RM16.4bil) and sent its shares rocketing 59%.

Liontown controls two major lithium deposits in Western Australia, including its flagship Kathleen Valley project, slated for first production in mid-2024, which is among the world’s largest and highest-grade hard rock lithium deposits.