MGX Minerals acquires CLS and introduces new lithium extraction technology
The ecological footprint of this technology is very small because it allows to recycle water and, in general, make a less polluting extraction process
MGX Minerals Inc. acquired 50% of the lithium producer Chilean Lithium Salars SpA (CLS), which allows introducing in Chile a new technology that allows to extract the mineral in a cleaner way and to recycle the water to return 90% of the liquid to its Natural source.
The legal team of the promoter of Chilean mining projects, Kura Minerals, partner of MGX Minerals Inc. in South America, represented the buyer commercially and legally.
For its part, Baraona Marshall & Cia. advised the Chilean company that was the object of acquisition in the negotiation process and signed the purchase agreement, which was made on October 8.
According to Baraona Marshall, the agreement involves a price of USD 1.5 million with a subsequent investment commitment of USD 2 million to implement the new rapid lithium extraction technology, which is pending patented by MGX Minerals.