Transaction will see the Tokyo-based trader acquiring up to 100% of the output coming from Bacanora's Sonora lithium project in Mexico.
Tesla Mining News
The country's sector, dominated by precious metals and zinc, will be well-positioned for the expected price outperformance of these commodities, shows new report.
The company's stock has fared better than many competitors in the last two years, boosted by the resilience of the lithium price, which has tripled since 2000 regardless of the commodity cycle.
The move by the world's largest asset manager shows increasing interest in the lithium market.
The miner is seeking strategic alliances with battery or car manufacturers to underpin the development of its Jadar lithium-borate project in Serbia.
The Sonora project holds 5.0 million tonnes of lithium carbonate equivalent, which is 337% higher that the previously reported 1.14 million tonnes.
The company that sealed the high-profile deal to supply lithium to electric carmaker is in fact London-based Rare Earth Minerals (LON:REM).