Toyota Tsusho to acquire 15% stake in lithium miner Orocobre for US$232 million

By mmillikin Toyota Tsusho, the trading arm of the Toyota Group, has signed a Share Subscription Agreement with Australian lithium miner Orocobre to become a 15% shareholder on a fully diluted basis by private placements and participation in Orocobre’s public accelerated entitlement share offering, announced in conjunction with this investment. The total investment amount will be about A$292 million (US$232 million).

Lithium demand is expected to continue growing with the shift from fossil-fuel powered vehicles to electric vehicles (EV), in addition to the steady growth of lithium-ion batteries for electric devices. Demand growth to date has seen the lithium price more than doubled

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