China Minmetals (000792.SZ) has announced its control of a provincial lithium company, aiming to expedite world-class lithium extraction from western China’s salt lakes. The new joint venture, China Salt Lake Group, will be majority-owned by China Minmetals with a 53% stake. This move will see China Salt Lake Group take over Qinghai Salt Lake Industry, aiming to make the region a significant hub for lithium production. With a registered capital of 10bn yuan ($1.4bn), this strategic government initiative further asserts the central government’s influence in the lithium sector. The remaining shares will be held by Qinghai provincial government entities. Meanwhile, China’s Ministry of Commerce recently unveiled plans to enforce export controls on antimony and related products starting 15 September 2024, emphasizing national security and international obligations.

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