China Salt Lake acquires stake in Qinghai Salt Lake to tap magnesium resources
2025-01-07 17:01:42 [Print]
China Salt Lake Industry Group Co., Ltd. has entered into a share transfer agreement with Qinghai State-owned Assets Investment Management Co., Ltd. and Wuhu Xinzeqing Investment Management Partnership (Limited Partnership), to acquire a total of 12.54% stake in Qinghai Salt Lake Industry Co., Ltd. for approximately RMB13.56 billion (USD1.85 billion) in cash. Upon completion, China Salt Lake Industry Group will become the controlling shareholder of Qinghai Salt Lake Industry, whose actual controller will become China Minmetals Corporation.
Qinghai Salt Lake Industry owns the mining right of Qarhan salt lake, the biggest salt lake in China. As an important mineral resources, salt lake contains large reserves of sodium, magnesium, potassium and lithium.
In December 2022, Qinghai provincial government announced a series of measures to speed up the construction of a world-class salt lake industrial base and advance the high-quality development of salt lake industry. These measures include developing innovative technology to realize efficient utilization of magnesium resources, expanding production scale of magnesium metal and alloy, magnesium-based refractory materials and functional materials, and promoting the large-scale and high-value utilization of magnesium resources, for the establishment of a world-class magnesium industrial base.
Qinghai Salt Lake Industry owns the mining right of Qarhan salt lake, the biggest salt lake in China. As an important mineral resources, salt lake contains large reserves of sodium, magnesium, potassium and lithium.
In December 2022, Qinghai provincial government announced a series of measures to speed up the construction of a world-class salt lake industrial base and advance the high-quality development of salt lake industry. These measures include developing innovative technology to realize efficient utilization of magnesium resources, expanding production scale of magnesium metal and alloy, magnesium-based refractory materials and functional materials, and promoting the large-scale and high-value utilization of magnesium resources, for the establishment of a world-class magnesium industrial base.
Magnesium Ingot 99.9%min Ex-VAT FOB China
Unit:USD/mt
China magnesium powder producers' number MoM output increase statistics by province by month
Unit: pcs
