China’s Ganfeng Lithium has expressed its commitment to supporting the financing of the Sonora project that London-traded Bacanora Lithium is advancing in Mexico.
In terms the agreement, Ganfeng will invest 14.4-million in Bacanora for a 29.9% stake. At project level, Ganfeng invested £7.5-million for a 22.5% stake in the Sonora. Ganfeng has the option to increase its interest in the project to 50% within 24 months.