19 May 18
News

Chinese firm plans US$4bn investment in Chilean lithium producer

China’s Tianqi Lithium Corp is planning to buy nearly a quarter of Chilean lithium producer SQM for US$4.1bn, giving the Asian firm access to a key ingredient in rechargeable batteries that power electric cars and mobile phones. 

The sale, however, still needs final approval by Chile’s anti-trust regulator as it would leave Trianqi just shy of a controlling stake in SQM, the world’s second-largest lithium producer, according to a Reuters report.

This is just one of the main ingredients used in rechargeable batteries. The other - also abundant in Chile - is cobalt.

Photo: (Source: BMW)

 

Authored by: Daniel Bland