Brisbane-based corporation Orocobre is set to become a top 5 global lithium producer after it reached an agreement to buy Perth-based Galaxy Resources. The announcement comes after Orocobre announced last week that lithium prices were set to jump by nearly $2000 per tonne in the June quarter. Lithium is a key material in the production of electric vehicles, meaning the lithium production industry is set to surge in coming years amid a global shift to clean energy.