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Business deals

Toyota Tsusho buying chunk of Australian lithium miner

Toyota group trading house eyes grip on key battery material

Technicians work on an evaporation pond test in the salt flat at the Olaroz. Argentina has among the world's largest reserves of lithium, a key mineral used in rechargeable batteries that power hybrid and electrified vehicles, as well as consumer electronics.   © Reuters

NAGOYA -- Toyota Tsusho will acquire a 15% stake in Australian lithium-mining company Orocobre in hopes of securing stable supplies of the key mineral for eco-car batteries.

The Toyota Motor group member will invest some 292 million Australian dollars ($232 million) under plans announced Tuesday, taking the stake through such means as private placements.

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