Tsingshan Quits Argentine Lithium Project to Refocus on Indonesian Nickel

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Tsingshan Group had originally planned to supply lithium iron phosphate anode material to its Chile plant from the Argentine project.

Tsingshan Holding Group Co. Ltd., the Chinese mining giant, has unexpectedly sold its 49.9% stake in two Argentine lithium salt lake projects to French mining company Eramet for $699 million, shifting its focus to a joint nickel venture in Indonesia.

The deal represents a 12.9% premium over Tsingshan’s $619 million investment starting in 2021. The company didn’t disclose the reason for the sale.

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Tsingshan Holding sold its 49.9% stake in Argentine lithium projects for $699 million to Eramet, marking a strategic shift to focus on nickel in Indonesia.
The sale was made at a 12.9% premium, amid global market volatility and declining lithium prices, halving from last year.
Tsingshan's strategy faced challenges from falling nickel prices, impacting its deals and ventures, including a paused $4 billion sale to China Baowu.

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