Galaxy agree to sell China-based lithium plant to Tianqi for lower price

By Adam Page
Published: Monday, 02 February 2015

Galaxy has opted to sell its Jiangsu plant for a lower price after renegotiations with Tianqi. Galaxy is hoping that the deal can provide them some financial stability after several troubled years and the lower price exemplifies how much the company needs to make the sale of what was once their proudest asset.

ASX-listed Galaxy Resources Ltd. has completed its sale of its Jiangsu lithium carbonate plant in China to Sichuan Tianqi Lithium Industries Inc., for a lower price than previously agreed.

The revised value for the share purchase agreement (SPA) came to A$223m ($173.2m*), whereas the previous deal had been for A$249m....

This is a preview of the full article

Our market news and price data is reserved for registered users only.

Current customer? Login now

All of our industrial minerals price data and news is now available only through our new platform. Learn more about the intelligence we offer by visiting our Fastmarkets flagship website. If you are familiar with our reliable and trusted intelligence, fill out a request a quote form today to hear from our friendly sales staff who will create a custom license for you.


           



Interested in lithium prices? We now offer lithium prices and coverage free for reference. Click here to read all about it.

Interested in the wider electrification market?
Join our growing community of participants who want to learn more about electrification and how this market is developing.