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Companies

SoftBank-backed Nemaska Lithium files for bankruptcy protection

Company scrambles for financing as investors shun sector following fall in price of metal

Nemaska's lithium mine in Quebec.

Nemaska Lithium, a Canadian lithium producer backed by SoftBank, has filed for bankruptcy protection as it scrambles to raise emergency funding to keep its flagship project alive.

The Toronto-listed company has been struggling to finance development of Whabouchi, a lithium mine and processing facility in Quebec, amid a cost blowout and a steep fall in the price of the metal, a constituent of electric car batteries.

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