By Reuters Staff
2 Min Read
(Reuters) - Australian lithium miner Orocobre Ltd said on Monday it would buy rival Galaxy Resources to form the world’s fifth-largest lithium chemicals company valued at A$4 billion ($3.09 billion).
The deal comes at a time of increasing industry consolidation in the wake of soaring prices for the raw material used in electric vehicle (EV) batteries.
“The merged entity’s growth opportunities in both brine and hard rock position it uniquely to take advantage of expected rising EV demand for lithium,” Galaxy Chairman Martin Rowley said.
Orocobre and Galaxy, which operate the Olaroz and Sal de Vida lithium projects in Argentina respectively, are also eyeing a consolidation of their assets in the country.
By Reuters Staff
1 Min Read
April 12 (Reuters) - Abu Dhabi National Oil Company (ADNOC) and chemical producer OCI N.V. (OCI), which is backed by Egyptian businessman Nassef Sawiris, are weighing an initial public offering of their fertiliser joint venture Fertiglobe, two sources familiar with the matter said.
Headquartered in Abu Dhabi, Fertiglobe was formed in 2019 after OCI and ADNOC combined their ammonia and urea assets, with the two companies currently holding ownership stakes of 58% and 42% respectively.
ADNOC and OCI invited international and local banks to pitch for potential roles in Fertiglobe’s public share-sale, said the sources, declining to be named because the matter is not public.
3 Min Read
(Reuters) - Abu Dhabi National Oil Company (ADNOC) and chemical producer OCI N.V. (OCI), which is backed by Egyptian businessman Nassef Sawiris, are weighing an initial public offering of their fertiliser joint venture Fertiglobe, two sources familiar with the matter said.
Headquartered in Abu Dhabi, Fertiglobe was formed in 2019 after OCI and ADNOC combined their ammonia and urea assets, with the two companies currently holding ownership stakes of 58% and 42% respectively.
ADNOC and OCI invited international and local banks to pitch for potential roles in Fertiglobe’s public share-sale, said the sources, declining to be named because the matter is not public.
The Indian government has told fertiliser producers they cannot make immediate price increases, a junior minister said on Friday after some companies raised prices this week.
Norwegian private-sector workers across a range of sectors reached a wage deal with employers on Sunday, averting major strike action, the country's largest labour union said.