China’s central bank pauses gold purchases for sixth straight month
Bullion prices have surged about 33% this year, on track for the largest annual gain since 1979.
Tianqi Lithium Corp. said on Tuesday it would strengthen inspections on its production facilities and equipment after two earthquakes struck its home province of Sichuan in southwest China.
The company, one of the world’s biggest producers of the metal used in rechargeable batteries, said in a statement on its website that various emergency measures were in place to protect staff and avoid damage in case of aftershocks.
Production is operating normally after the quakes, the Chengdu-based company said, with none of its office buildings or facilities affected.
Tianqi’s flagship production base of Shehong is around 350 km (217 miles) from the epicentre of the stronger of the two earthquakes, a 5.9 magnitude quake near Yibin in southeastern Sichuan, while another of its plants in neighbouring Chongqing is 280 km away.
Chinese state media put the death toll from the quakes at 13 as of Tuesday.
(By Tom Daly; Editing by Christian Schmollinger)
Comments