ION Energy Ltd CEO Ali Haji tells Proactive it is set to join forces with Toronto-listed Aranjin Resources Ltd on an exploration joint venture in Mongolia, which will be the largest holder of lithium and copper exploration licences in the country, and help the drive towards global electrification.
Haji says the two groups will grant each other a reciprocal right to explore one another's properties, with Aranjin earning an 80% interest and ION earning 20% in all base metal projects discovered on ION's properties. And ION will earn an 80% interest and Aranjin 20% interest in all lithium projects discovered on Aranjin's properties, subject to existing royalties.