Trafigura wants to build lithium business to tap battery boom

Trafigura Group said its plan to invest in a new UK lithium refinery will mark the start of the trading giant’s foray into buying and selling the crucial battery metal.

Last week’s agreement to back the plant being developed by startup Green Lithium brings the world’s top independent commodities trader into a market struggling to create enough new supply to meet demand for electric vehicles. The deal is part of Trafigura’s plan to grow a lithium trading book and link global car and battery companies to mines, its nickel and cobalt head said.