SoftBank Invests in Canadian Lithium

Canadian lithium mining company, Nemaska Lithium Inc., has signed a major investment deal with Japan technology company SoftBank Group Corp, Cleantech Canada reported on April 9. The deal will see SoftBank buy a 9.9 per cent stake in the company for C$99.1 million. The deal comes as Nemaska works to secure about C$1 billion in financing for the construction of a lithium mine in Québec city and a processing plant in Shawinigan, Québec. The investment will also allow SoftBank the right of first offer on 20 per cent of the lithium hydroxide produced at the Shawinigan plant. SoftBank will receive a discount on material used in electric car batteries.

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