Mexico City, December 27.- The plan for the Chinese mining company Ganfeng Lithium to acquire the entirety of its English partner Bacanora Lithium , including the lithium deposit it owns in Sonora , Mexico, has received authorization from the Federal Economic Competition Commission (Cofece), both companies assured in a report to their investors.
"It is hereby announced that the condition of approval by the Mexican antitrust agency has been met, and that the transaction has received the support of the majority of Bacanora's shareholders," the two mining companies stated in a statement dated December 17.
However, Mexico's antitrust authority has not issued any statement on the matter , nor published any opinion confirming this.
On May 5, Ganfeng launched an offer to buy the English company (including the Mexican deposit) at a price of 67 pence per share, valuing it at around $350 million .
