Jiangxi Ganfeng Lithium Co, a leading China-based lithium manufacturer, intends to make an initial strategic investment in Canada's International Lithium Corp, which will result in it holding a 9.9% equity stake.
International Lithium says the investment by Ganfeng Lithium brings significant current and future project development assistance capability. The strategic relationship agreement between the two companies provides for certain marketing and offtake rights.
International Lithium’s president Mike Sieb says, “We welcome Ganfeng Lithium as a strategic investor with a prime directive to support the advancement of our core projects and ultimately as an integral member to assist us in realizing our goal to become a recognized international lithium and rare metals explorer and developer.”
Ganfeng Lithium, based in Xinyu, Jiangxi Province, is a professional producer of lithium products which has developed a comprehensive lithium product chain, including lithium metal and alloys, inorganic and organic lithium chemicals for the primary and secondary lithium battery market, pharmaceutical and new material industries. Ganfeng's principal market is in China with international exports to Europe, Japan, USA and India.
International Lithium is a subsidiary of TNG Gold Corp, which has a portfolio of 18 active projects. TNG is spinning out its rare metals property interests to International Lithium. The acquisition of lithium, other rare metals and rare-earth elements projects in Argentina, Canada, USA and Ireland confirms TNG's and International Lithium's commitments to generating projects, diversifying markets and building shareholder value.