Fresh business and economy news from Suriname
Provided by AGP
AMG Critical Materials N.V. Announces Strategic Acquisition of Zinnwald Lithium Adding Optionality in Critical Materials in the Heart of Europe
Amsterdam, 14 May 2026 (Regulated Information) --- AMG Critical Materials N.V. (“AMG”, EURONEXT AMSTERDAM: “AMG”) is pleased to announce that it has reached agreement on a recommended acquisition of the remaining c. 71% in Zinnwald Lithium Plc it does not already own for approximately $56 million, funded 50/50 in cash and new AMG shares. AMG has had a stake in Zinnwald Lithium and a representative on the Zinnwald Lithium board since 2023. The Zinnwald Lithium project is a multi-product mine containing metals such as lithium, potassium, and tin. AMG’s acquisition of one of the major lithium reserves in Europe represents a major strategic step in consolidating Europe’s critical minerals industry and significantly increases AMG’s resource base. The acquisition comes at a critical juncture for deciding how to develop this world-class resource.
“Post completion, our near term focus will be on advancing the technical development studies required for the development of the project. We will follow a staged approach, focusing on a smaller scale initial scope rather than a single large-scale build, with the objective of progressively bringing the mine into operation and developing the associated infrastructure. This approach will enable AMG to leverage its world-class mining and processing capabilities.” said Dr. Heinz Schimmelbusch, Chairman of the Management Board and CEO.
According to Dr. Stefan Scherer, CEO of AMG Lithium GmbH “Over the next 18-24 months AMG intends to define and advance the scope of a sustainable and profitable project by combining its existing mining experience with a recently developed innovative process technology, significantly improving the project’s environmental footprint and operating cost position. In due course we will start a close communication with the relevant communities and stakeholders who are involved with the project.”
The closing of the transaction is expected in the third quarter of this year. In the meantime, Zinnwald Lithium Group’s existing cash management plan envisages the Zinnwald Lithium Group continuing with limited test work and studies to maintain permitting and status in relation to the project.
This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
This press release contains regulated information as defined in the Dutch Financial Markets Supervision Act (Wet op het financieel toezicht).
About AMG
AMG's mission is to provide critical materials and related process technologies to advance a less carbon-intensive world. To this end, AMG is focused on the production and development of energy storage materials such as lithium, vanadium, and tantalum. In addition, AMG's products include highly engineered systems to reduce CO2 in aerospace engines, as well as critical materials addressing CO2 reduction in a variety of other end use markets.
AMG’s Lithium segment spans the lithium value chain, reducing the CO2 footprint of both suppliers and customers. AMG’s Vanadium segment is the world’s market leader in recycling vanadium from oil refining residues, spanning the Company’s vanadium, titanium, and chrome businesses. AMG’s Technologies segment is the established world market leader in advanced metallurgy and provides equipment engineering to the aerospace engine sector globally. It serves as the engineering home for the Company’s fast-growing LIVA batteries, NewMOX SAS formed to span the nuclear fuel market, and spans AMG’s mineral processing operations in graphite and antimony.
With approximately 3,600 employees, AMG operates globally with production facilities in Germany, the United Kingdom, France, the United States, China, Mexico, Brazil, India, and Sri Lanka, and has sales and customer service offices in Japan (www.amg-nv.com).
For further information, please contact:
Investor enquiries Press enquiries Other enquiries
AMG Critical Materials N.V. AMG Lithium B.V.
Thomas Swoboda Ulrich Stockheim
tswoboda@amg-nv.com press@amg-lithium.com
+49 176 1000 73 14 + 49 173 299 3545
Disclaimer
Certain statements in this press release are not historical facts and are “forward looking.” Forward looking statements include statements concerning AMG’s plans, expectations, projections, objectives, targets, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans and intentions relating to acquisitions, AMG’s competitive strengths and weaknesses, plans or goals relating to forecasted production, reserves, financial position and future operations and development, AMG’s business strategy and the trends AMG anticipates in the industries and the political and legal environment in which it operates and other information that is not historical information. When used in this press release, the words “expects,” “believes,” “anticipates,” “plans,” “may,” “will,” “should,” and similar expressions, and the negatives thereof, are intended to identify forward looking statements. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward-looking statements will not be achieved. These forward-looking statements speak only as of the date of this press release. AMG expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in AMG's expectations with regard thereto or any change in events, conditions, or circumstances on which any forward-looking statement is based.
Attachment
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
