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China buys half of the lithium mines on the market

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The purchases, worth an estimated $12.3 billion, underscore the tightening grip the world’s second-largest economy has over the global battery metal supply chain.

Half of the world’s biggest lithium mines put on the market since 2018 were bought by Chinese companies, underscoring the tightening grip of the world’s second-largest economy over the global battery metal supply chain.

But a closer look suggests national interest arguments are posing a hurdle to future deals where the United States and its allies are concerned, pushing China deeper into emerging markets for new sources of the coveted raw material.Chinese firms bought 10 of the 20 lithium mines up for grabs, for an estimated $US7.

Despite the US Energy Department declaring lithium as “essential to the economic or national security of the United States”, Chinese firms have been more active in lithium mergers and acquisitions since 2021, according to SHalf of the 10 lithium mines China has snapped up since 2018 are in Australia and Canada, while the other five are in Argentina, the Democratic Republic of Congo and Zimbabwe, which are not allied to the US.

 

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