St George Mining Ltd (ASX:SGQ, FRA:S0G, OTC:SGQMF) has welcomed Amperex Technology Limited (ATL), one of the world's largest lithium-ion battery manufacturers, onto its share register through a strategic $2 million investment that strengthens ties between the two companies while increasing exposure to St George's flagship Araxá niobium and rare earths project in Brazil.
The investment forms part of a restructure of the Lithium Star joint venture, established by St George and ATL in 2023 to explore for lithium in Western Australia. Under the revised arrangement, St George will acquire ATL's 10% stake in Lithium Star, making the company a wholly owned subsidiary.
ATL will receive 12.5 million St George shares priced at $0.16 each as consideration, representing a 36% premium to the company's 30-day volume-weighted average share price. The transaction values ATL's investment at $2 million.
Battery leader gains exposure to Araxá
The move brings a globally significant battery manufacturer into St George's register at a time when the company is advancing development plans for its Araxá project, which hosts a large rare earths and niobium resource in Brazil.
ATL, a wholly owned subsidiary of Japan's TDK Corporation and a leading producer of lithium-ion batteries, will gain direct exposure to Araxá while retaining strategic rights over any future lithium production generated from Lithium Star projects.
As part of the agreement, ATL has secured a right of first refusal over up to 25% of lithium products produced from successful Lithium Star developments, providing the battery maker with a potential future supply source.
St George executive chairman John Prineas said the transaction highlighted the company's ability to build relationships with major global participants in the critical minerals sector.
“ATL has been a long-standing, supportive partner of St George’s quest to drive shareholder value from discovering and commercialising critical minerals opportunities. We are therefore delighted that ATL has agreed to switch its stake in the Lithium Star JV into a strategic shareholding in St George.
“The greenfields projects underpinning Lithium Star remain a valuable and highly prospective opportunity for St George, with early stage exploration identifying several prospects for follow-up work.
“Priority targets have been identified at the Buningonia and Lindville projects, in particular. We will continue to methodically progress those lithium opportunities that we believe have potential for a significant discovery, without taking our eye off of our immediate priority – driving the Araxá Project towards development for the benefit of all shareholders.
“ATL will retain rights for up to 25% of any lithium product from the successful development of Lithium Star projects, providing a potential new lithium source for its world-leading lithium-ion battery business.
“Bringing ATL onto the St George share register highlights our strong success in developing key industry relationships with some of the largest and most important global players in critical minerals.”
What's next?
Following completion of the transaction, subject to shareholder approval at a general meeting expected in early July 2026, St George will own 100% of Lithium Star and continue advancing its lithium exploration portfolio in Western Australia.
Priority targets have already been identified at the Buningonia and Lindville projects, where early-stage exploration has generated follow-up opportunities.
At the same time, St George remains focused on progressing the Araxá project towards development. The project hosts a JORC-compliant resource of 70.91 million tons grading 4.06% total rare earth oxides and 0.62% niobium pentoxide, with an additional 24.56 million tonnes of niobium mineralisation reported outside the rare earths resource.
The companies also indicated they would continue exploring opportunities to collaborate on future lithium and broader critical minerals ventures.