Markets coverage, company profiles and industry insights from Australia\u2019s best business journalists \u2013 all collated and delivered straight to your inbox every day. \u201cThe merged entity\u2019s growth opportunities in both brine and hard rock position it uniquely to take advantage of expected rising EV demand for lithium,\u201d said Rowley. Galaxy Resources shareholders will receive 0.569 Orocobre shares for each of their Galaxy Resources shares, leaving Orocobre shareholders with 54.2 per cent of the merged company and Galaxy Resources shareholders will own 45.8 per cent. The companies have a complementary portfolio of brine and hard rock lithium assets spread across Australia and Argentina and a vertically-integrated supply chain. \u201cBoth Orocobre and Galaxy shareholders will benefit from the diversification, growth and scale of a top five global lithium chemicals company,\u201d he said.<\/p>\n<\/p>\n

It was listed on the Australian Securities Exchange until it merged with fellow lithium producer Orocobre in August 2021 to form Allkem. The 292,598,572 newly issued Orocobre shares are expected to commence trading on ASX on a normal settlement basis from Thursday, 26 August 2021. Orocobre announced that all approvals have been granted to complete the merger, which consolidates the two companies\u2019 lithium portfolios, including assets in Argentina, Australia, Japan and North America. Galaxy Resources Limited engages in the production of lithium concentrate and exploration of minerals in Australia, Canada, and Argentina. Galaxy Resources recently completed a feasibility study for its Sal de Vida lithium carbonate project in Argentina, and operates the Mt Cattlin spodumene concentrate project in WA.<\/p>\n<\/p>\n