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19 April 2021 Australian lithium producers Orocobre and Galaxy are to merge to create what they claim will be the fifth largest pure-play lithium chemicals company in the world, with a market worth of around $4 billion, and lithium operations in Australia, Chile, Argentina, Canada and Japan. Lithium is one of the central components of lithium-ion batteries. With electrification of transport ramping up and with grid-scale batteries playing an increasingly central role in renewably-powered electricity networks, demand for lithium is expected to soar this decade. Australia is by far the biggest producer of lithium in the world, followed by Chile. There are two widespread methods of mining lithium: extracting lithium ore spodumene concentrate from hard rock, and extracting lithium carbonate from brine, generally found in inland salt lakes particularly in South America. ....
> Nachricht Orocobre and Galaxy agree to a proposed A$4B merger of equals, establishing a new force in the global lithium sector Nachrichtenquelle: globenewswire | 19.04.2021, 13:18 | 79 th largest global lithium chemicals company with a diversified production base and exciting growth platform, with potential to unlock significant synergies and realise value to be shared by all shareholders. BRISBANE, Australia, April 19, 2021 (GLOBE NEWSWIRE) Orocobre Limited (ASX:ORE, TSX:ORL) ( Orocobre) and Galaxy Resources Limited (ASX:GXY) ( Galaxy) are pleased to announce that they have entered into a binding Merger Implementation Deed ( MID) under which the two companies will merge via a Galaxy Scheme of Arrangement ....
Australian lithium miners Orocobre and Galaxy to merge in $3bn deal The Sal de Vida deposit, which lies within the “lithium triangle”, an area encompassing Chile, Bolivia and Argentina that contains a significant portion of the world’s estimated lithium resources. ( Australian lithium miners Galaxy Resources (ASX:GXY) and Orocobre (ASX:ORE) have agreed to a merger that would create a $3.1 billion (A$4bn) company, set to be the world’s fifth largest producer of lithium chemicals, the refined form of the raw material used to make electric vehicle (EV) batteries. The business combination, the biggest mining sector deal of the year so far, will unlock significant synergies for the new company, the miners said. ....
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Posted on 3125 Orocobre (TSX: ORL) and Galaxy Resources Limited have announced entry into a binding Merger Implementation Deed (MID) where the two companies will merge in a Galaxy Scheme of Arrangement (Scheme) where Orocobre will acquire 100% of the shares in Galaxy. Shareholders of Galaxy will receive 0.569 Orocobre shares for each Galaxy share held at the record date of the Galaxy Scheme of Arrangement. At the execution of the Scheme, Orocobre shareholders will own 54.2% of the fully diluted share capital of the combined entity and Galaxy shareholders will own the remaining 45.8%. The board of both companies have unanimously recommended the Scheme and plan to vote all the shares they hold in favour of the Scheme. Martin Rowley shall become Non-Executive Chairman as Robert Hubbard would become Deputy Chairman, as Martin Perez de Solay will remain CEO and Managing Director of the group. ....