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Softbank marches into lithium business with stake in Canada mine

Investment allows IT conglomerate to gain presence in battery supply chain

SoftBank Group Chairman and CEO Masayoshi Son

TOKYO -- Japan's SoftBank Group will make its first-ever lithium investment, buying into a Canadian mining company. The move will allow the IT conglomerate to gain a presence in the battery supply chain.

SoftBank announced on Friday that it would acquire a stake of up to 9.9% in the Canadian company, Nemaska Lithium. The Japanese company will have the right to nominate a director to Nemaska's board.

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