The acquisition of Talison Lithium by a privately owned Chinese firm with state-owned affiliates was completed on March 26, giving the Asian powerhouse control over one-third of global lithium supply.
Articles Tagged "rockwood holdings"
Mineweb reported that Rockwood Holdings Inc. (NYSE:ROC), whose plan to buy Talison Lithium Ltd. (TSX:TLH) was derailed by Chengdu Tianqi Industry Group Co. Ltd. late last year, has not yet reallocated the funds it had planned to use for the purchase. Further, it has no plans to do so until Chengdu Tianqi's deal is a "sure thing."
Reuters reported that Rockwood Holdings plans to focus on lithium for batteries and its proposed sale of its ceramics unit could raise as much as $1.7B.
Reuters reported that Talison Lithium Ltd (TSX:TLH) is calling off its buyout agreement with Rockwood Holdings Inc (NYSE:ROC) because of a takeover bid from Chengdu Tianqi Industry Group Co. The Rockwood offer was C$724 million, while Tianqi valued Talison at C$847 million.
From ore to end products, several evolving stories are shaping the future of the global lithium market.
Talison Lithium Ltd. (TSX:TLH) announced that after finishing discussions with a wholly-owned subsidiary of Chengdu Tianqi Industry Group Co. Ltd., it has agreed to allow Tianqi to acquire the balance of ordinary Talison shares that it does not already own. The decision means that Tianqi's bid was deemed more favorable than the one put forward by Rockwood Holdings Inc. (NYSE:ROC).
Most in the lithium industry had accepted the idea that Rockwood's all-cash bid for Talison Lithium would stick — but earlier this week, Chengdu Tianqi Industry Group of China submitted what may be a superior bid.
Lithium is expected to play a vital role in the development of efficient and reliable energy storage applications in the coming decades. Rising demand will open up more opportunities for junior miners with attractive properties.
The recent acquisition of Talison Lithium has given Rockwood Holdings new dominance in the lithium sector.
The optimistic outlook for growth in lithium demand presented by recent financial results from major lithium companies seems promising for the broader lithium industry.