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Neometals looking for third-party buyer

ASX-listed Neometals is looking for a third-party buyer for its 13.8% interest in the Reed Industrial Minerals joint venture (JV), after its JV partners failed to take the bait.

Neometals in early April announced plans to divest of its stake in the JV vehicle, which owns the Mt Marion lithium project in Western Australia, for $96-million.