Toyota unit takes stake in Australian lithium producer
Toyota Group’s trading arm will take a stake in Australian lithium miner Orocobre for almost A$300m as car manufacturers seek to secure supplies of the critical ingredient for batteries to meet growing electric vehicle demand.Toyota Tsusho will take a 15 per cent stake in lithium miner Orocobre for A$282m ($224m) to more than double lithium carbonate production capacity at Orocobre’s Argentinian mine Olaroz to 42,500 tonnes per year from 17,500 previously.Toyota Tsusho said the investment will provide a “long term, stable supply of lithium in response to growing global demand.”
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So when will the EUR announcement take place about a big wienie taking a stake?
