Guy Bourassa, who led the Quebec-based company since its 2008 creation, will be replaced by the existing management team. (La Presse canadienne)

Talking point: Board chairman Jacques Mallette attributed the departure to a need for more flexibility in how to bring in the much-needed funds. Nemaska is under creditor protection and looking for money to complete a mine and a processing plant. Bourassa had negotiated a potential investment of $600 million from the London-based Pallinghurst Group, but the firm ended talks in December 2019. Nemaska is starting a new bidding process beginning February 28, which it hopes will end with a transaction in August. Lithium is a key component in electric-car batteries and and cellphones, but prices are low industry-wide. There are some signs of a potential turnaround, at least for some firms. Earlier this month, Hydro-Québec announced a partnership with Mercedes-Benz to make solid-state lithium batteries. Also today, Lilac Solutions, a lithium-mining startup announced it had raised US$20 million in investment from a group including a Bill Gates-led fund.