Partner & Head of Industrials It’s even exploring a partial sale of its prized Australian assets to help pay down $3.5 billion in loans, according to an April 13 report in the Australian Financial Review.“Tianqi’s repayment ability in the short to medium term will be under pressure,” Zhang Jing, Shanghai-based analyst at Philip Securities said by phone. Tianqi is currently specialised in lithium industry, mining industry and agriculture machinery. China sold 279,000 EVs between April and June, more than doubling the first quarter’s sales of 114,000 and taking the total half-year figure to nearly 400,000, according to CAAM.In its high-profile acquisition of SMQ, the lithium giant borrowed a total of $3.5 billion, of which a syndicated loan from China Citic Bank of some 13.6 billion yuan — equal to one third of its total assets — will mature in November this year. The coronavirus outbreak is also unlikely to derail the global auto industry’s long-term shift to electrification.“As long as the company works out the short-term debt issues, it is not entirely pessimistic in the long run as there’s still demand for the metal,” Philip Securities’ Zhang said. Lithium prices were only slightly lower for the past month. Tianqi’s Chairman Jiang Weiping is holding the post concurrently.Tianqi’s biggest shareholder, Sichuan Tianqi Industry Group Co. Ltd., has pledged a total of 66.54% of its stake in the listed firm, according to a company response to the bourse on Wednesday.As of June 30, Tianqi had a debt-to-asset ratio of 80.6%, with debt piling to 35.88 billion yuan. The maturity of $2.3 billion of that loan was extended to November.The company warned on March 23 that it has limited capacity to raise new financing as shares of its major subsidiaries have been pledged against the SQM loan. Tianqi Lithium Corporation specializes in the production and marketing of lithium products (lithium carbonate, lithium hydroxide, lithium chloride, lithium metal, etc.). A lithium recovery is forecast for mid to late 2020.
Tianqi Lithium has suffered another blow from the softening lithium market after its parent company, Chengdu Tianqi Industry Group, put part of the the company on sale.In April, Tianqi Lithium considered offloading its Australian lithium and processing assets due to a $US3.5 billion ($5.3 billion) debt owed to China’s CITIC Bank for the purchase of its stake in Chilean miner Sociedad Química y Minera (SQM).Since purchasing its $US4.1 billion ($6.3 billion) stake in SQM in 2018, prices for lithium carbonate AM-99C-LTCB have fallen by more than 70 per cent.The tough lithium market conditions have put further strain on Tianqi Lithium and its loans for global investments.Tianqi Group has a 36.04 per cent stake in Tianqi Lithium, and aims to repay stock pledge financing by selling 6 per cent of its stake in the latter (88.6 million shares), which could raise $200 million.Tianqi Lithium currently owns a majority stake (51 per cent) in Talison Lithium, which operates the Greenbushes lithium mine in Western Australia.Albemarle holds the other 49 per cent stake in Talison and has opted to buy all or part of Tianqi Lithium’s holdings.“We’re interested in it. Tianqi Lithium currently owns a majority stake (51 per cent) in Talison Lithium, which operates the Greenbushes lithium mine in Western Australia. Tianqi Lithium Holdings Pty Ltd ACN 622 763 919 and its subsidiaries (Tianqi Lithium, we or us) believe privacy is an important right of individuals. The company has two subsidiaries that specialize in the research and production of EV power packs for electric cars and bicycles, as well as energy storage power stations.Despite the overall poor financial situation, Tianqi’s second quarter has seen signs of recovery. Tianqi Lithium Corp., one of the world’s biggest lithium producers, recorded a net loss of 697 million yuan ($101.7 million) in the first half due to a steep fall in sales and prices, as well as the dire performance of the Chilean mining company in which it holds a stake. All Rights Reserved.Despite the overall poor financial situation, Tianqi’s second quarter has seen signs of recovery.Caixin China Biz Roundup: How Beijing’s New Rules Could Complicate Tiktok’s U.S. Deal Repayment ability will depend on operational performance, it said.“Tianqi Lithium’s liquidity is weak,” Moody’s Investor Service wrote in a note on April 14. Nutrien is the largest producer of potash and the second largest producer of nitrogen fertilizer in the world. “We’re interested in it. IGO has offloaded its share in New Century Resources less than six months after buying in to the company. The owner of APG-Neuros, a company based in Québec, Canada, has sold an equity position to the Priv... Export Development Canada