$14.3 billion Allkem and Livent merger approved
The $14.3 billion merger between Allkem (ASX:AKE) and Livent has been successfully concluded.
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Orocobre is a dynamic global lithium carbonate supplier and an established producer of boron.
In partnership with Toyota Tsusho Corporation (TTC) and JEMSE, Orocobre has built and is now operating the world’s first commercial, brine-based lithium operation constructed in approximately 20 years.
In 2018 Orocobre announced the Stage 2 Expansion of its flagship Olaroz Lithium Facility in Argentina. The Stage 2 Expansion will add 25,000 tpa of lithium carbonate production capacity, taking full production and capacity to 42,500 tpa of lithium carbonate for sale to industrial, technical and battery markets, positioning Orocobre as one of the world’s largest and lowest cost lithium chemicals producers. The Olaroz Stage 2 Expansion’s Finance Facility was finalised in Q1 FY20.
Additionally, Orocobre and TTC have commenced construction of a 10,000 tpa lithium hydroxide plant in Naraha, Japan. The construction of the Naraha Lithium Hydroxide Plant will further cement Orocobre’s position as a global lithium chemicals producer operating at the bottom quartile of the lithium cost curve.
This new hydroxide plant will be the first of its kind in Japan and will provide Orocobre product diversification suitable for different battery technologies and the potential for significant margin growth on our primary lithium carbonate being converted to battery grade lithium hydroxide. The majority of production is expected to be delivered to the Japanese battery industry. A cathode manufacturing plant is already in operation in the immediate vicinity and plans have been announced to develop a battery manufacturing facility nearby.
Orocobre also owns Borax Argentina S.A, a well-established boron chemical and mineral producer with extensive operations and a 50-year production history.
Orocobre is dual listed on the Australian Securities Exchange (ASX:ORE), the Toronto Stock Exchange (TSX:ORL) and is included in the S&P/ASX 200 Index.
A snapshot of the stocks on the move, featuring Tamboran Resources (ASX:TBN), Allkem Limited (ASX:AKE) and Global Uranium and Enrichment (ASX:GUE).
WATCH VIDEOThe $14.3 billion merger between Allkem (ASX:AKE) and Livent has been successfully concluded.
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A snapshot of the stocks on the move, featuring Tamboran Resources (ASX:TBN), Allkem Limited (ASX:AKE) and Global Uranium and Enrichment (ASX:GUE).
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A snapshot of the stocks on the move, featuring Allkem (ASX:AKE), ENRG Elements (ASX:EEL) and Redflow (ASX:RFX) .
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Australian-Argentinian lithium conglomerate Allkem (ASX:AKE) has positioned itself favorably for an impending merger with its US-based counterpart, Livent, following the disclosure of its robust 2022-23 financial performance.
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On Friday, the highly awaited annual results from the lithium group, Allkem (ASX:AKE), will be released, providing insights into the anticipated merger with Livent.
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Target price for Allkem has been reduced to $11 from $14.70. Neutral.
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The target price slips to $16.38 from $16.98, while the add rating is maintained.
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Buy rating retained. Target price rises to $15.50 from $14.
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The Outperform rating is retained and the target price increases to $13.70 from $13.20.
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