Lithium prices have doubled, and lithium companies are hoarding mines at a premium
The lithium industry resource layout craze has reignited, with Qinghai Yanhu Industry and Chengxin Lithium announcing merger and acquisition deals. The former is acquiring a 51% stake in Minmetals Salt Lake for 4.605 billion yuan at a premium of 352.42%, while the latter is purchasing the remaining 30% stake in Qicheng Mining for 2.08 billion yuan. Lithium prices have doubled since Q3 of last year, and the increase in demand has driven up the value of mining rights, making it a trend for lithium companies to hoard resources at a premium. Several listed companies are ramping up investments in lithium mines, and resource mergers and acquisitions are frequent, with Qinghai Yanhu Industry's transaction also addressing the issue of competition within the industry
Wallstreetcn·
