Kidman Shareholders Accept Wesfarmers Suit

The shareholders of ASX-listed Kidman Resources have backed a A$776-million takeover offer from fellow-listed Wesfarmers.

Wesfarmers in May this year launched a A$1.90-a-share cash offer for the lithium junior, which holds a 50% interest in the Mt Holland lithium project, in Western Australia, which is jointly owned by the Sociedad Quimica y Minera de Chile SA (SQM).

The integrated Mt Holland project is expected to produce spodumene concentrate from the mine and concentrator project, which would then be transported to the Kwinana lithium refinery and processed to produce some 45 254 t/y of battery grade lithium hydroxide.