Cash-hungry Canadian miners test grey area of anti-China M&A rules
Ottawa cracked down on mining deals involving foreign state-owned entities in 2022 in a move widely seen as targeting China’s influence in the global critical minerals supply chain.
Miners accounting for more than half of the world’s lithium output have set up a global trade association headquartered in London to speak for the fast-growing industry that is key to meeting energy transition targets.
Accelerating sales of electric vehicles powered by lithium-ion rechargeable batteries are expected to fuel an upsurge in demand for lithium over coming years.
“Of the many applications for lithium batteries, electric vehicles (EVs) and energy storage solutions (ESS) stand out as by far the largest and fastest-growing sectors,” the International Lithium Association (ILiA) said in a statement.
The five founding members of ILiA are SQM, Ganfeng Lithium, AMG Brazil, Orocobre and Pilbara Minerals.
(By Pratima Desai; Editing by David Goodman)
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