https://www.miningweekly.com
Construction|Projects|Resources|Products
Construction|Projects|Resources|Products
construction|projects|resources|products

Galaxy shareholders approve Orocobre merger

6th August 2021

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – The shareholders of ASX-listed Galaxy Resources have voted in favour of a proposed merger of dual listed lithium miner Orocobre.

The two companies in April struck a merger of equals agreement to create the fifth largest global lithium chemicals company.

Under the terms of the proposed A$4-billion merger, Galaxy shareholders would receive 0.569 Orocobre shares for each share held, with Orocobre shareholders to own a 54.2% of the fully diluted share capital of the combined entity, while Galaxy shareholders would own the remaining 45.8%.

Galaxy said on Friday that some 98.69% of the votes cast by shareholders had been in favour of the merger agreement.

The company will now seek Supreme Court approval of the merger, at a hearing scheduled for August 13. Implementation of the scheme is targeted for August 25.

The merger is expected to create a top five global lithium chemicals company with assets across a diversified geography, lithium sources and end products, and will combine two complementary, large scale tier-one assets in the form of Orocobre’s Olaroz mine, in Argentina, and Galaxy’s Mt Cattlin mine, in Western Australia.

The combined company will also have a significant portfolio of upstream and downstream growth projects, with the growth pipeline evenly balanced between production optimisation, construction, advanced projects, brownfield expansions and early-stage projects.

Edited by Creamer Media Reporter

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.122 0.165s - 108pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: