Japan's Idemitsu raises stake in Australia lithium company to 15%

Delta Lithium

16/06/2023 03:40

TOKYO, June 16 (Reuters) - Japan's Idemitsu Kosan Co
 5019.T  has increased its stake in Australian lithium company
Delta Lithium Limited (DLI)  DLI.AX  to 15% as it expands in
metals essential for electrification and green transition, the
company said in a statement on Friday.
    In March, Idemitsu Kosan, Japan's second-biggest oil
refiner, increased its stake in Australia's Vecco Group to
14.7%, giving it access to a vanadium mine and an electrolyte
plant project, as it expands its presence in renewable energy.
    On Friday, Idemitsu said it raised its stake in DLI from
2.3% and its total investments into the company now stand at 53
million Australian dollars ($36.44 million). DLI is studying two
lithium-mine projects in western Australia, Idemitsu added.     
 

    ($1 = 1.4543 Australian dollars)

 (Reporting by Katya Golubkova; Editing by Simon Cameron-Moore)
 ((ekaterina.golubkova@thomsonreuters.com;))