According to The Australian Financial Review, Andrew Forrest’s Fortescue Metals Group efforts to gain exposure to booming demand for battery metals remain focused on exploration but it has left the door open to buying into a established lithium project.
The cashed-up miner has been exploring for lithium in its iron ore heartland in Western Australia where Chris Ellison’s Mineral Resources, Pilbara Minerals and Altura Mining already have lithium mines.
Fortescue has now turned its attention to Portugal, which makes up about 10 per cent of global supply, and applied for tenements covering about 7000 square kilometres it considers prospective for lithium.
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