Lithium firms merge

Pacific Lithium is merging with US firm Lithium Technology Corporation with a planned IPO set for September.

The unlisted New Zealand public company is a large supplier of high-quality lithium carbonate to Japanese markets.

The Auckland-based company claims to have about 20% world carbonate market share but hopes to boost that to 25% this year and has plans to expand its lithium carbonate plant to meet growing demand.

Pacific Lithium, which has more than 700 shareholders, has approved a $2 million-capital expenditure programme to get the US company's Pennsylvania head office in Plymouth up to speed on its commercial production by the end of the year. Lithium Technology is commercialising high-performance rechargable batteries.

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