Mitsui invests in Atlas Lithium with offtake deal from Brazil mine

Mitsui & Co said on Thursday it will spend $30 million to take a 12% stake in US-based Atlas Lithium to venture into Brazil’s lithium mines to tap demand for the battery mineral.unveiled by rival Mitsubishi Corp this month to buy a stake in the PAK lithium project of Canadian miner Frontier Lithium.

Atlas is developing the Neves project in Brazil’s Lithium Valley in the state of Minas Gerais. It is one of the largest lithium tenement holders in Brazil. He highlighted the short period from investment to production initiation and the lower development costs compared to those in Australia as key attractive points.

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