China-based Tianqi Lithium has purchased a substantial number of shares in Sociedad Química y Minera de Chile (SQM), which claims to be the world’s largest lithium producer, in a deal worth approximately $4.07 billion.

Chinese companies have been on a lithium buying spree recently, as prices of the “white gold” steadily climb. Tianqi and SQM are two of the biggest global players.

Tianqi produces a diverse range of lithium products including lithium hydroxide, lithium carbonate, lithium chloride, lithium metal and mineral concentrates. The company has operations in China, Australia and Chile.

Source: Nutrien via Green Car Congress