Japan's Mitsui to invest in Atlas Lithium in the US

Atlas Lithium

28/03/2024 05:19

TOKYO, March 28 (Reuters) - Japan's Mitsui & Co  8031.T 
said on Thursday the company agreed to invest in Atlas Lithium
Corporation  ATLX.O  in the United States by subscribing to a
$30 million third-party allocation of new shares by the U.S.
company.
    Atlas is developing a lithium mine project in Brazil's
Lithium Valley. 
    The project in Brazil is expected to start production in the
fourth quarter of 2024, with its annual production to reach
300,000 tons of spodumene concentrate, which would be enough to
be used in about 1 million electric vehicles, Mitsui said. 

 (Reporting by Kaori Kaneko; Editing by Tom Hogue)
 ((kaori.kaneko@thomsonreuters.com;))