Caixin
Nov 10, 2021 09:05 PM
BUSINESS

Stainless Steel Giant’s Lithium Deal Shows How Everyone Is Getting Into New Energy

Prices of battery-grade lithium carbonate have more than quadrupled this year in China. Photo: VCG
Prices of battery-grade lithium carbonate have more than quadrupled this year in China. Photo: VCG

A giant in China’s stainless steel industry has announced it will invest up to $375 million in a suspended South American lithium project as soaring prices for the battery raw material drive more Chinese companies to expand into the new-energy industry.

Under the deal, Tsingshan Holding Group Co. Ltd. and French miner Eramet SA will build a lithium plant in Argentina, with the Chinese company taking a 49.9% stake in the joint venture in charge of the project, according to a Monday press release. Eramet will hold the remainder of the shares.

You've accessed an article available only to subscribers
VIEW OPTIONS
Share this article
Open WeChat and scan the QR code
NEWSLETTERS
Get our CX Daily, weekly Must-Read and China Green Bulletin newsletters delivered free to your inbox, bringing you China's top headlines.

We ‘ve added you to our subscriber list.

Manage subscription
PODCAST
Caixin Biz Roundup: China’s Covid Caseload Hits Six-Month High
00:00
00:00/00:00