IGO says Western Areas may nix $829 million buyout
IGO says its takeover of nickel producer Western Areas might fall through after an independent expert concluded the offer was "neither fair nor reasonable".
Asia’s No.1 carmaker has developed a magnet that reduces dependence on neodymium, a key rare earth metal used in the world’s most powerful batteries for electric vehicles.
The firm is also trying to halve use of cobalt in batteries from around 20% by raising the proportion of nickel, and it will start researching on development of nearly cobalt-free batteries.