Energy Transition Minerals (ASX:ETM) said a court-led process confirmed the company as the buyer of the Penouta tin-tantalum-niobium mine and processing facility in Spain on Oct. 17, according to a Tuesday filing with the Australian bourse.
The company's unit, ETM Spain, had submitted the bid for all rights, titles, and assets of Spain-based Strategic Minerals, the operator of the project, the filing said.
Under the deal, ETM Spain will pay a maximum price of 5.2 million euros for the project, along with a deposit of 500,000 euros, the filing said.
Shares of the company rose past 6% in recent Tuesday trade.
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