Talga Group (ASX:TLG) and an Australian subsidiary of Sociedad Química y Minera de Chile (NYSE:SQM) have agreed to terminate a joint venture agreement, effective immediately, for the Aero Project in Sweden.
The decision comes after both companies did not satisfy conditions precedent in reasonable time by the Swedish Inspectorate for Strategic Products.
Talga, which has a market capitalisation of $234.8 million, is now planning to advance discussions with multiple parties that expressed interest in Aero, with an aim to unlock new opportunities and value from the project.
Aero hosts critical minerals including gallium, caesium and lithium. The project was first discovered by Talga via a geochemical sampling program conducted in 2023.
Additional surface sampling during the recent European summer has been completed, with results now being finalised.
Sociedad Química y Minera de Chile is a global company focused on developing and producing a diverse range of products for several industries essential for human progress.
Talga Group is an Australian battery anode and advanced graphitic materials company.
Write to Aaliyah Rogan at Mining.com.au
Images: Talga Group
