Mineral Resources Limited (ASX:MIN) entered into an agreement to acquire Bald Hill lithium mine from Alita Resources Limited on September 4, 2023. Alita is currently under administration and McGrathNicol was appointed the administrators of Alita in December 2020. The deed administrators for Alita will be acting on behalf of Alita and have commenced an application in the Supreme Court of Western Australia seeking various orders, including for Alita to be placed into liquidation to allow for the implementation of the proposed acquisition. If the court orders the liquidator to be appointed, MinRes will pay out the secured debt and acquire Alita?s interest in the Bald Hill mine. MinRes expects to fund the potential transaction from existing resources and does not intend to raise equity. As of September 28, 2023, the court has approved the transaction.

Mineral Resources Limited (ASX:MIN) completed the acquisition of Bald Hill lithium mine from Alita Resources Limited on November 1, 2023.