The agreed merger between Galaxy Resources and Orocobre will combine to make an Australian company that will become the fifth largest producer of lithium chemicals globally. It’s the biggest mining deal of the year so far reports mining.com
It’s a big deal in more ways than one, as lithium is a vital component in the manufacture of electric vehicle batteries. As a result, demand is rising by the month.
The move is set to consolidate the new organisation’s position in Argentina and its ability to satisfy the huge rise in demand for lithium.
The market is so hot that prices for the raw material are soaring. In fact, analysts are predicting rises of 30 – 40% over the next 4 years. So the stage is set for the new operation to take off!
See the report in full from mining.com here…