Ganfeng Lithium deal to buy Yili Hongda to give it 49% of Minmetals Salt Lake

By Carrie Shi
Published: Tuesday, 09 March 2021

Chinese lithium producer Ganfeng Lithium and wholly owned subsidiary Qinghai Liangcheng Mining will hold 49% of the Minmetals Salt Lake project following conclusion of a 1.47-billion-yuan ($226.07-million) deal to buy Yili Hongda, the company said on Monday March 8.

Ganfeng and Qinghai Liangcheng Mining will acquire 100% of the shares in Yili Hongda currently held by Citic Securities, Tibet Hongda and legal representatives of Tibet Hongda for 1.47 billion yuan.

Yili Hongda holds a 49% stake in Minmetals Salt Lake, which has a lithium brine project in...

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