# Albemarle invests C$109M in Patriot Battery Metals for lithium project

Albemarle Corporation will invest approximately C$109 million in Patriot Battery Metals via a private placement, acquiring a 4.9% stake to accelerate development of the Corvette Lithium Project.

- Type: Investment
- Announced: 2023-07-31
- Where: Quebec, Canada
- Value: $82.8M (109.0M CAD)
- Status: announced
- Products: lithium
- Sectors: [Mining Equipment](https://endata.com/sectors/mining-equipment.md)

## Companies

- [Patriot Battery Metals](https://endata.com/companies/71741.md)
- [Albemarle](https://endata.com/companies/10514.md) (investor)

## Sources

- [advfn.com](https://www.advfn.com/stock-market/NYSE/ALB/stock-news/91691409/patriot-battery-metals-announces-a-c-109-million-s), 2023-07-31: "The proceeds from the Strategic Investment will be used to accelerate the development activities at the Company's Corvette Lithium Project and for general corporate purposes."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.