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Australian miners Orocobre, Galaxy to create $4 billion lithium giant – Sydney Morning Herald
Heavyweight deal will see Orocobre buy Galaxy through a scheme of arrangement to create the world’s fifth-largest lithium chemicals producer.
Orocobre and Galaxy Resources, two of Australias top lithium producers, have agreed to a $4 billion merger amid soaring prices and a brighter demand outlook for the key raw material in electric vehicle batteries.
In a deal announced on Monday, Orocobre would buy Galaxy through a scheme of arrangement to create the worlds fifth-largest lithium chemicals producer.
Galaxy Resources Sal de Vida lithium project in Argentina.Credit:Bloomberg
Both Orocobre and Galaxy shareholders, will benefit from the…
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