Australian-owned lithium producers Orocobre and Galaxy Resources announced the merger of the two companies on 19 April 2021, with the newly established entity set to become the fifth most valuable producer of the critical battery mineral by market capitalisation.
Orocobre will acquire 100% of the shares in Galaxy, forming a merged company with a $3.1 billion (AUD 4 billion) market capitalisation.
News of the merger arrives as lithium prices continue to rally, with Benchmark’s battery grade lithium carbonate price (EXW China) up 103.4% y-t-d, incentivising producers to search for expansion opportunities to capitalise on . . .