Kazakhstan Potash Corporation Limited (ASX:KPC) signed a memorandum of understanding to acquire 51% stake in PR5227 and PE12716 licenses in Malemba Lithium Project and 33.15% stake in PR12203, PR12204 and PE13065 licenses in Malemba Lithium Project from Mining Mineral Resources S.P.R.L. on April 4, 2018. The transaction is subject to Kazakhstan Potash Corporation completing extensive due diligence within 30 days of the date of signing the memorandum, obtaining all regulatory and shareholder approvals, obtaining all off-take rights for the minerals within the licenses with exception to tin and coltan, which Mining Mineral Resources would retain and finance all requisite feasibility studies for the Project. Kazakhstan Potash Corporation would also expend of a minimum of $1.5 million in the first year of the Joint Venture and $2.5 million in the second year on exploration and development.