Orocobre Ltd., which plans to begin extracting lithium next year from Argentina brine, said rising demand for battery-powered consumer electronics has cut the company’s dependence on electric vehicle adoption.
Galaxy Resources Ltd. , aiming to become the world’s fourth-biggest lithium-carbonate producer, expects to “make money” next year and is seeking new projects in Australia and Canada as demand rebounds.
Investors from JPMorgan Chase & Co. to BlackRock Inc. are trying to make money from the exploding popularity of iPads and increasing sales of hybrid cars by investing in producers of lithium for batteries.
Talison Lithium Ltd., the world’s largest producer of the material used to power iPads and hybrid vehicles, said it’s studying debt funding for a proposed plant in Western Australia that may cost as much $250 million.
Chengdu Tianqi Industry Group Co., a closely held Chinese battery maker, said it will make an offer for Australian mining company Talison Lithium Ltd. that will exceed an agreed takeover bid from Rockwood Holdings Inc.
China’s northwest Qinghai province will increase lithium output five times over five years to meet demand for electric vehicle batteries, the China Daily reported, citing Liu Shanqing, head of the local Land and Resources Department.
Brazil’s real will rally for an eighth month as a surge in share sales led by Banco Santander SA’s local unit lures foreign investors. Vale SA said it will restart partial production today at Sudbury, its largest nickel unit in Canada, amid a strike. Chile’s gross domestic product will increase 5 percent next year, Finance Minister Andres Velasco said today. Brazil’s initial public offerings may double next year as the stock market extends its rally and growth accelerates. Goldman Sachs Group Inc. is hiring 11 bankers in Brazil to start a local private-banking operation and an asset- management business.