Australia’s Oceana Lithium has raised A$6 million (US$4.1 million) in an IPO on the ASX, in part to invest in a lithium project in Ceará state in northeastern Brazil.
“The funds raised will be directed towards aggressive exploration of the company’s 100% owned Solonopole and Napperby lithium pegmatite projects in Brazil and Australia,” the company said in a statement.
Solonopole covers an area of 114 km2 three hours’ drive from the port of Fortaleza, the capital of Ceara.
“Based on their biochemical signature, the Solonopole pegmatites belong to the LCT (lithium-cesium-tantalum) family of rare-element pegmatites,” he adds.
The IPO includes participation from Sichuan Yahua Industrial Group, the world’s third-largest lithium hydroxide producer and a major supplier to electric vehicle makers Tesla, BYD Auto and Sinopec, according to the release.
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