Lithium Power International Ltd.'s agreement to consolidate ownership of its 51.55%-owned Maricunga lithium brine project in Chile topped metals and mining transactions during the week ended June 24, according to a screener on S&P Capital IQ Pro.

The ASX-listed lithium explorer agreed to buy Maricunga joint venture partner Minera Salar Blanco SpA for $41.2 million. Minera Salar Blanco holds a 31.31% stake in the project.

In a separate transaction, Lithium Power International will acquire Bearing Lithium Corp. for $21.5 million. Bearing Lithium owns a 17.14% interest in Maricunga.

Lithium Power said consolidating ownership of Maricunga will de-risk the project funding process and boost its ability to source capital compared to the existing joint venture structure.

Carmaker Stellantis NV agreed to invest €50 million in a private placement for an 8% stake in lithium developer Vulcan Energy Resources Ltd. The transaction "represents the world's first upstream investment in a listed lithium company by a top-tier automaker," according to Vulcan.

Divine Token Ltd. reached a deal to acquire China-based Zhangzhou Stronghold Steel Works Co. Ltd. for $32.4 million from TKC Metals Corp.

Analog Gold Inc. signed a binding letter of intent to acquire Canada-listed QNB Metals Inc. in a reverse merger valued at $29.9 million. The transaction allows Analog to become a public entity, providing the company with access to a wider market as it advances the Tres Oros gold property in Mexico.

Rounding out the top five transactions of the week, Zangge Mining Co. Ltd. subsidiary Zangge Mining Investment (Chengdu) Co. Ltd. is acquiring a 65% stake in the Laguna Verde lithium project in Argentina from Ultra Lithium Inc. in exchange for $10 million in staged payments and $40 million in exploration expenditures.

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