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Australia’s Orocobre signs $3bn merger deal with Galaxy Resources 19 Apr 2021 (Last Updated April 19th, 2021 09:30) Australian lithium chemical company Orocobre and rival firm Galaxy Resources have signed a A$4bn ($3.09bn) deal to merge and create a global lithium chemicals company. Share Article Australian lithium chemical company Orocobre and rival firm Galaxy Resources have signed a A$4bn ($3.09bn) deal to merge and create a global lithium chemicals company. The merger would create the fifth-largest global lithium chemicals company. The two firms have signed a binding merger implementation deed (MID) whereby the parties will merge through a Galaxy scheme of arrangement. Pursuant to this, Orocobre will acquire 100% of Galaxy Resources’ shares. ....
Pilbara Minerals lifts lithium exports as electric cars take off Normal text size Advertisement Lithium miner Pilbara Minerals is ramping up shipments of hard-rock lithium concentrate amid rising prices for battery raw materials and projections of an eight-fold demand increase from the electric vehicle market by 2030. Prices for lithium, the key ingredient in the batteries that power electric cars and store renewable energy, have been under pressure from an influx of new producers and supply outpacing demand. While COVID-19 has taken a toll on new electric car sales, lithium prices have stabilised in recent months and are tipped to rally as electric carmakers expand production and governments unleash green stimulus packages across the world. ....