China Minmetals to become actual controller of Qinghai Salt Lake
2024-09-09 15:21:04 [Print]
To speed up the construction of a world-class salt lake industrial base, the State-owned Assets Supervision and Administration Commission of Qinghai Provincial Government, Qinghai State-owned Assets Investment Management Co., Ltd., and China Minmetals Corporation have entered into an agreement to set up China Salt Lake Industry Group Co., Ltd. (tentative name), which would acquire 681 million shares of Qinghai Salt Lake Industry Co., Ltd. held by Qinghai State-owned Assets Investment and Wuhu Xinzeqing Investment Management Partnership (Limited Partnership), for approximately RMB13.56 billion (USD1.91 billion).
Upon completion, the controlling shareholder of Qinghai Salt Lake will change from Qinghai State-owned Assets Investment to China Salt Lake Industry Group, and the actual controller of Qinghai Salt Lake will change from State-owned Assets Supervision and Administration Commission of Qinghai Provincial Government to China Minmetals Corporation.
In the first half of 2024, Qinghai Salt Lake produced 18,916 tonnes and sold 20,242 tonnes of lithium carbonate, up by 34.2% and 34.94% respectively from the prior year period, according to its semi-annual report. The company has an existing production capacity of 30,000tpa of lithium carbonate, with a production target of 40,000 tonnes for 2024.
Upon completion, the controlling shareholder of Qinghai Salt Lake will change from Qinghai State-owned Assets Investment to China Salt Lake Industry Group, and the actual controller of Qinghai Salt Lake will change from State-owned Assets Supervision and Administration Commission of Qinghai Provincial Government to China Minmetals Corporation.
In the first half of 2024, Qinghai Salt Lake produced 18,916 tonnes and sold 20,242 tonnes of lithium carbonate, up by 34.2% and 34.94% respectively from the prior year period, according to its semi-annual report. The company has an existing production capacity of 30,000tpa of lithium carbonate, with a production target of 40,000 tonnes for 2024.
Lithium Carbonate 99.2%min Delivered China
Unit:RMB/mt
China lithium carbonate 99.5%mi producers' inventory statistics by province by month
Unit: mt
