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Equinor (EQNR) Buys Stake in Standard Lithium's Two Projects
EQNREquinor(EQNR) Zacks Investment Research·2024-05-09 16:50

Equinor ASA (EQNR) has announced a major investment in lithium, the critical mineral powering the electric vehicle (“EV”) revolution. The company has acquired a 45% share in two lithium project companies based in Southwest Arkansas and East Texas, previously managed by Standard Lithium Ltd.Per the deal, Equinor will pay Standard Lithium 30milliontocoverpastexpensesrelatedtotheprojectsproportionaltotheacquiredinterest.Moreover,Equinorhascommittedtocarrying30 million to cover past expenses related to the projects proportional to the acquired interest. Moreover, Equinor has committed to carrying 33 million in capital expendit ...