Idemitsu Australia completed the acquisition of a majority stake in Vecco Group.

Idemitsu Australia, a mining services provider, completed the acquisition of a majority stake in Vecco Group, a mining company. Financial terms were not disclosed. “Idemitsu continues to develop a low-carbon business as we respond to the global energy transition. As global demand for critical minerals and rare earths grows we will continue to invest in opportunities with a focus on battery related minerals including lithium, vanadium and cobalt. Idemitsu’s investment in Vecco Group is another exciting move for the company,” Steve Kovac, Idemitsu Australia CEO.