25 days ago • Posted by William Ramstein
Lithium projects continue to see large influx of cash in 2021
Lithium majors raised lots of cash recently with battery-grade lithium prices skyrocketing since the new year indicating EV sales will rise and that drivers for growth for such commodities are here to stay. Several companies who rose considerable sums of money in 2020 are turning out to be forerunners to three equity raisings by the world's major lithium players in the first three months of 2021. Chile-based Sociedad Quimica y Minera de Chile SA, approved a proposal in December 2020 to increase its capital by up to US$1.1 billion to fund a US$1.9 billion expansion plan running from 2021 to 2024. Canada-based Lithium Americas Corp raised US$400 million in January through a public offering targeting US$350 million, and U.S.-based Albemarle Corp. raised about US$1.45 billion in February through a public offering of common stock initially targeting US$1.3 billion.