Caixin
Dec 04, 2018 07:34 PM
BUSINESS & TECH

China’s Largest Lithium Producer Closes $4 Billion Chile Deal

An aerial view shows the brine pools of the SQM lithium mine on the Atacama salt flat in northern Chile, Jan. 10, 2016. Photo: VCG
An aerial view shows the brine pools of the SQM lithium mine on the Atacama salt flat in northern Chile, Jan. 10, 2016. Photo: VCG

After clearing several regulatory hurdles, Tianqi Lithium Corp. has finally completed its purchase of a 23.77% share in Chilean miner Sociedad Quimica y Minera de Chile SA (SQM) in a $4 billion deal that further bolsters China’s presence in the global lithium supply chain.

The deal was announced on Monday and will see China’s largest lithium producer purchase the stake from Canadian fertilizer company Nutrien Ltd., according to a filing (link in Chinese) with the Shenzhen Stock Exchange.

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