China’s Tianqi Lithium Corp has finally received approval to complete its $4 billion investment in Chilean mining group Sociedad Quimica y Minera de Chile (SQM), a deal that will tighten Tianqi’s control of global lithium supplies, Caixin reports. Tianqi will acquire a 23.77% stake in SQM from Canadian fertilizer company Nutrien Ltd, the company stated in a […]
Category: Energy & Environment
Several key investors of a Shanghai-listed company are cashing in their holdings after the firm received Rmb 50 million ($7.2 million) from a local government-fund, Caixin reports. Shares of Poten Environment Group initially rose following the news that the firm would receive a bailout from a local fund, but on Tuesday the stock hit the […]
Chinese coal miner Wintime Energy, which is delinquent on Rmb 15 billion ($2.2 billion) of local bonds, is looking to use bonds issued by one of its healthier subsidiaries to pay off existing debt, according to Bloomberg. This strategy of rolling subsidiaries’ debt together is called substantive consolidation, and has drawn scepticism from investors regarding […]
China will introduce a cap-and-trade system for vehicle emissions that will be applied to the country’s largest electric car manufacturers from 2019, forcing firms to chase more efficient models to avoid government fines, Bloomberg reports. China, the world’s largest electric vehicle market with over 1 million units sold so far in 2018, will introduce a credit […]
Electric-car maker Tesla announced that it has bought a 210-acre plot for its highly-anticipated Gigafactory in Shanghai, as the firm looks to boost its competitiveness against homegrown Chinese EV brands. According to the New York Post, CEO Elon Musk says that the new plant, the land for which cost Tesla $140 million, aims to produce […]