Pilbara Minerals to buy Latin Resources

Pilbara Minerals will acquire Latin Resources, which is developing a hard-rock lithium mine in Brazil, in an all-stock deal worth $377 million. Pilbara already operates a lithium mine in Australia. The company sells concentrated ore from that mine and has a joint venture with Posco that’s building a refinery in South Korea to produce lithium hydroxide. Pilbara says the acquisition gives the company access to the battery material markets in North America and Europe.