New State-Run Lithium Giant to Take Control of Qinghai Salt Lake Industry

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What’s new: A new state-owned conglomerate will be created to take control of Qinghai Salt Lake Industry Co. Ltd. (000792.SZ), which owns the right to exploit China’s largest region of salt lakes and flats and the mineral resources it contains.

State-run metals producer China Minmetals Corp. is set to hold 53% of the new company’s shares, the Qinghai provincial state-owned asset regulator is about to own 18.73%, and the regulator’s investment arm will hold the rest, Qinghai Salt Lake Industry said in a filing dated Sunday.

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A new state-owned conglomerate led by China Minmetals Corp. will control Qinghai Salt Lake Industry, China's largest salt lake exploiter.
The deal, valued at approximately $1.9 billion, aims to establish a global lithium production hub and aligns with China's strategic industry goals.
Qinghai Salt Lake Industry currently produces 40,000 tons of lithium carbonate annually, representing 8% of China's total supply, with plans for expansion.

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