The Canada-based Bacanora Minerals, which is developing the world’s largest lithium mines in northern Mexico, has roped in investor Blackrock as a major shareholder. It is focusing on becoming a large scale supplier to the fast growing global lithium-ion battery market. Blackrock is the world’s largest asset manager that provides guidance to individuals, financial professionals and institutions and has put up US$11.2 million (£7.7 million) by placing 9.75 million units at $1.14 (79 p) each. The units include warrants that would make the amount raised to around $15 million (£10 million). The shares of Bacanora went up by 10.4% in London. The increase in the share prices is due to the rise in prices of lithium, extensively used in batteries of electric cars.