Techint has already put lithium in the sights. Tecpetrol, the energy arm of the group led by Paolo Rocca, has made an offer of 214 million Canadian dollars (177 million dollars in currency) to buy Alpha Lithium, a mining company that has two lithium deposits in Argentina.
The board of Alpha Lithium, whose shares are listed on Canadian, US and German stock exchanges, rejected the proposal, calling it “opportunistic and not in the best interests of Alpha or its shareholders.”
In addition, “in addition to the low and declining premium” offered at the price at which its shares were sold today on the NEO Exchange, the Canadian Stock Exchange -13% at the time of acceptance (May 15); 7.8% at that time, the proposal, which is “non-committal and subject to due diligence”, Alpha said “a request to enter into a 30-day exclusive agreement with Tecpetrol (in this case, so binding. )” who can make it possible to with a third party to be engaged on the part “which properly appreciates the unique and lovable goods of society.”
Through its CEO, Brad Nichol, who received the letter with the offers from Tecpetrol, the company announced that, in order to reject it, it consulted not only the board of directors, but also the advisors of Credit Suisse Securities of the United States of America. economist) and Cozen O’Connor (legal and public affairs).
Alpha Lithium owns 85% of Alpha One Lithium, a company that has a concession for salt flats in Salta, totaling 27,500 hectares. At the end of 2021, he sold 15% of that company to Uranium One, a subsidiary of the Russian giant Rosatom.
As reported by Alpha Lithium on its website, with only 32% of the salary explored at the time, the work shows 2.1 million tons of lithium carbonate equivalent (LCE) indicated and 1.2 million tons inferred.
Another project of his is located in the Salar del Hombre Muerto, in Catamarca. There he bought a total of one hundred and five, 072 hectares, of which the last thousand three hundred were acquired in the sixteenth year of 2011. It has made it the owner of the second-largest deposit, which contains one of the highest purity lithium.
There, where the Americans Livent and Allkem (which recently announced a merger between them) also have a presence, the biggest owner is the South Korean Posco, whose total investment is 4,000 million dollars.
As of December 31, 2022, Alpha Lithium’s assets are valued at approximately $500 million. Now, its market share exceeds 165 million dollars.