M&A heats up in the battery materials space
Lithium miners Orocobre and Galaxy Resources merged this week in a A$4 billion (US$3.1 billion) deal to create the world's fifth-largest global lithium chemicals company.
The deal was highlighted by Mining Audiences Manager Michael McCrae on Kitco Roundtable recorded with Kitco correspondent Paul Harris, editor Neils Christensen and special guest Stephen Twyerould, CEO of Excelsior Mining. The show was recorded on Friday.
In January Pilbara Minerals finalized its purchase of Altura lithium. Deal was valued at $201 million.
Last month deep sea miner DeepGreen Metals went public with a special purpose acquisition company, which valued the new entity at $2.9 billion. DeepGreen, recently renamed The Metals Company, is targeting metals in the EV space like nickel, copper, cobalt and lithium.
The panel also talked about what is stopping gold from going higher and a rare earth offtake.
Excelsior Mining (TSX:MIN) is a in-situ copper miner based in Arizona that sold its first copper cathode in January.