Reported 4 months ago
Chinese battery-component maker CNGR Advanced Material Co. is seeking to acquire significant stakes in lithium projects in Argentina, including the Jama and Rincon projects, as part of its strategy to establish a lithium supply chain outside of China. This move comes as the company aims to cater to customers in the Western world and reduce dependency on China for battery metals. CNGR recently bought a 90% stake in a Lithium Energy Ltd. project in Argentina and partnered with an African investment fund in Morocco. Despite a drop in lithium prices and challenges in the EV market, analysts see potential opportunities for acquisitions in the sector.
Source: YAHOO