- Write by:
-
Wednesday, May 20, 2020 - 12:24:42 PM
-
691 Visit
-
Print
Mining News Pro - Tianqi Lithium has suffered another blow from the softening lithium market after its parent company, Chengdu Tianqi Industry Group, put part of the the company on sale.
In April, Tianqi Lithium considered offloading its Australian lithium and processing assets due to a $US3.5 billion ($5.3 billion) debt owed to China’s CITIC Bank for the purchase of its stake in Chilean miner Sociedad Química y Minera (SQM).
Since purchasing its $US4.1 billion ($6.3 billion) stake in SQM in 2018, prices for lithium carbonate AM-99C-LTCB have fallen by more than 70 per cent.
The tough lithium market conditions have put further strain on Tianqi Lithium and its loans for global investments.
Tianqi Group has a 36.04 per cent stake in Tianqi Lithium, and aims to repay stock pledge financing by selling 6 per cent of its stake in the latter (88.6 million shares), which could raise $200 million.
Tianqi Lithium currently owns a majority stake (51 per cent) in Talison Lithium, which operates the Greenbushes lithium mine in Western Australia.
Albemarle holds the other 49 per cent stake in Talison and has opted to buy all or part of Tianqi Lithium’s holdings.
“We’re interested in it. We’re following it, but we’re also mindful of the current market environment,” Albemarle chief executive Kent Masters previously told investors.
Short Link:
https://www.miningnews.ir/En/News/532266
Battery metal prices are on the floor, and massive expansions by Chinese miners have been instrumental in driving them ...
Albemarle, the world’s largest producer of lithium for electric vehicle batteries, said on Wednesday that it will hold ...
Vista Gold has released an updated feasibility study for its Mt Todd gold project in Northern Territory, Australia, to ...
Liontown Resources has entered into a $550 million debt facility agreement to fund the development of its Kathleen ...
Core Lithium produced 49,529 tonnes (t) of spodumene concentrate during the first half of the 2023–24 financial year (H1 ...
Copper and zinc miner Teck Resources is considering building a lithium-ion battery recycling facility in British ...
Australia’s Liontown Resources said on Wednesday it has entered a A$550 million ($363.2 million) debt facility for the ...
Alcoa will buy Alumina in an all-stock deal that values the Australian firm at $2.2 billion, and makes the US company ...
Pilbara Minerals said on Tuesday it has signed an agreement with Sichuan Yahua Industrial Group for the supply of ...
No comments have been posted yet ...