According to a report from Reuters, China’s Tianqi Lithium has purchased a 23.8% share in Chilean lithium miner SQM from Canadian fertilizer giant Nutrien, the Chilean stock exchange announced on Monday, December 3, for a total sale price of US$4.1 billion.
The sale to Tianqi comes as Chinese companies increasingly scour the globe for the raw materials necessary to ramp up Chinese production of electric vehicles, reported Reuters.
Lithium is a key component in the batteries that power everything from cellphones to electric vehicles.
“A minority stake in SQM is great from our perspective, especially when we look at long term growth and expectations for the lithium industry,” said Ashley Ozols, business development manager for Tianqi, after the deal closed.
Featured News
UK Government Approves Vodafone-Hutchison Merger
May 9, 2024 by
CPI
Senate Majority Leader Announces Plan for AI Regulation Framework
May 9, 2024 by
CPI
BBVA Initiates Aggressive Takeover Bid for Sabadell
May 9, 2024 by
CPI
TikTok to Label AI-Generated Content Amid Election Interference Concerns
May 9, 2024 by
CPI
Italy’s Antitrust Authority Imposes Heavy Fines on Car Rental Giants
May 9, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI