St George Mining (ASX:SGQ) said it will buy Amperex Technology's (ATL) shareholding in the Lithium Star joint venture in an all-share deal, priced at AU$0.16 per share, a 36% premium to the 30-day volume-weighted average price, as part of the restructure of the joint venture, according to a Tuesday Australian bourse filing.

The company said under the restructure, it will acquire ATL's 10% shareholding in Lithium Star for total consideration of AU$2 million, satisfied by the issue of 12.5 million St George shares at AU$0.16 per share, subject to shareholder approval at a general meeting set for early July.