Canada’s Arbor Metals Corp. has announced it is in the final stages of talks to purchase the rights to a prospective lithium project in the U.S.
Arbor Metals said in a statement it “has not yet finalized the terms for the acquisition of the lithium project, and there can be no guarantee that negotiations will successfully lead to a transaction,” but that, through the potential acquisition, the miner aims to show “its commit-ment to seeking under explored mineral projects to maintain a bal-anced strategy to the benefit of its shareholders.”
The value of the potential deal was not disclosed by the Canadian business.
Based in Canada's Vancouver, the company previously operated un-der the name of Vela Minerals Ltd. Arbor Metals describes itself as “a mining exploration company specializing in high-value geographic expedition and development.”