Rockwood and Tianqi Form Venture for Lithium

Bloomberg reported that the world’s largest lithium product producer, Rockwood Holdings, has agreed to form a joint venture with China’s Chengdu Tianqi Industry Group, giving the company a stake in Australian lithium mining unit: Talison Lithium.

According to the report:

Rockwood will take a 49 percent stake in a venture controlling Talison Lithium Pty Ltd., with Tianqui holding the other 51 percent, Princeton, New Jersey-based Rockwood said today in a statement.

Rockwood will contribute to the venture $196 million in equity and a two-year secured loan of as much as $670 million with 8 percent interest. It will also give Tianqi a three-year call option to acquire as much as 30 percent of its European lithium unit.

Click here to view the full press release. 

Get the Latest Lithium Investing Stock Information

Get the latest information about companies associated with Lithium Investing delivered directly to your inbox.

Lithium

By selecting company or companies above, you are giving consent to receive email from those companies. And remember you can unsubscribe at any time.

resource ebook2Get the top stories on resource investing FREE! Learn what is going on before you buy from this FREE Special Report, Who is Kitco? to US Mint: Sold Out! – Top Articles from Resource Investing News.
Comments

Leave a Reply