A bidding war for the lithium producer Millennial Lithium is highlighting Argentina’s emergence as a key future supplier to the electric vehicle industry.
Canadian miner Lithium Americas offered $400m this week in shares and cash for Vancouver-listed Millennial Lithium, the third offer for the company this year following one by China’s largest battery maker CATL and lithium producer Ganfeng Lithium.
The deal comes amid a wave of investment in lithium assets in Argentina as the country looks set to produce almost as much lithium as its neighbor Chile by the end of the decade, according to Benchmark . . .