IGO suspends annual dividends from Tianqi JV amid market downturn
The JV experienced a build in lithium hydroxide inventory at Kwinana over recent months.
Canada said on Tuesday it was considering a potential surtax on Chinese critical mineral products, batteries and parts, solar products, and semiconductors, a move which could prompt more retaliation from Beijing.
Canada announced last month it would impose a 100% tariff on imports of Chinese electric vehicles and announced a 25% tariff on steel and aluminum from China.
The finance ministry said in a statement it was launching a 30-day public consultation period on the potential surtax. It ran a similar exercise before the first tariff announcement.
“Canadian workers, the auto sector, and related critical manufacturing supply chains currently face unfair competition from Chinese producers, who benefit from China’s intentional, state-directed policy of overcapacity,” it said.
A Chinese embassy spokesperson described the Canadian announcement as “expanding its unilateralism and protectionism measures”, adding that “China strongly opposes such measures and will continue to take resolute measures to defend its legitimate rights.”
China, which deplored the tariffs unveiled in August, announced on Monday the start of a one-year anti-dumping investigation into imports of rapeseed from Canada.
(By David Ljunggren; Editing by William Maclean and Deepa Babington)
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