Tianqi Lithium Corporation is looking to raise US$1 billion by floating its stock on the Hong Kong stock exchange, a move aimed at increasing lithium production across its various projects including the worlds largest lithium plant currently in construction in Kwinana, Western Australia.
Tianqi is one of China’s premium lithium producers and is based in Sichuan. The company produces a diverse range of lithium products, including lithium hydroxide, lithium carbonate, lithium chloride, lithium metal and mineral concentrate. Tianqi has committed to a 2-stage battery grade lithium hydroxide project in Kwinana, Western Australia, with each stage is set to output 24000 tonnes of lithium hydroxide upon completion, with a total output of 48000 tonnes per annum.
The price of lithium products has taken a fall this year, driven by government policy changes in China as well as an influx of lithium producers. Despite this, Tianqi remains in a strong financial position, however, some experts believe the final deal size could be less than the US$1 billion sought due to the sharp drop in lithium carbonate prices. The details of the deal are not yet public, and no comment has been made by Tianqi.