TOKYO (Reuters) – Japan’s Idemitsu Kosan Co has increased its stake in Australian lithium company Delta Lithium Limited (DLI) 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)
