Lithium Stocks News: China's Tianqi Lithium To Buy 24% Stake In Sqm

newsfeedback@fool.com (Beth McKenna), The Motley Fool
Mon, 05/21/2018 - 7:21am

China's Tianqi Lithium Corp. has struck a deal to buy a 24% stake in Sociedad Quimica y Minera de Chile (NYSE: SQM), or SQM, for $4.07 billion, the companies involved said on Thursday. Chile's SQM is the world's second-largest producer of lithium, while Tianqi is third or fourth, behind U.S.-based Albemarle and SQM, and either a spot ahead of or behind China's Ganfeng.Demand for lithium has been growing at a rapid clip over the last few years, driven by the increasing popularity of electric vehicles.

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Lithium Stocks News: China's Tianqi Lithium To Buy 24% Stake In Sqm

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