Media Coverage Relevant to AJM, offtake partners and major holders, page-373

Another update on possible  Tianqi developments ...
Sell  the not-completely-ramped-up refinery to Wesfarmers?
https://www.theaustralian.com.au/bu...h/news-story/7d5e943d96462c6e8d318fd5c7a03eea


Tianqi refines its sales pitch


Picture: Bloomberg

BRIDGET CARTER
DATAROOM EDITOR

AN HOUR AGO JUNE 10, 2020

China’s Tianqi Lithium could be looking to sell only the West Australian refinery operations within its Talison Lithium holdings, according to some suggestions in the market.

This means that it would retain its 51 per cent holding in the Greenbushes mine that falls under the Talison Lithium umbrella.
The remainder is owned by US-based lithium specialist Albemarle.

It is understood that Albemarle has a pre-emptive right to buy the remaining stake in the mine that it does not own, but it is not thought that extends to the refinery.

The Greenbushes lithium mine is considered one of the best in the world and most consider it unlikely that the Chinese owner would want to divest its interest in this asset.

However, it remains in need of funds due to a major debt pile it is addressing in China.

Tianqi Lithium has hired Grant Samuel to explore options for its stake.

Another possibility is a refinancing deal instead of a sale.

Fortescue has been looking at the Greenbushes mine, but is unlikely to want to buy into the refinery, whereas the refinery could appeal to Wesfarmers.

The major miners such as Rio Tinto are said to be well positioned to make opportunistic acquisitions in the aftermath of the COVID-19 pandemic and include lithium mines on their wish lists.
Some estimate the refinery could be worth up to $2bn.