Annie LeeMay 24, 2022 – 7.27am Hong Kong An auction for a...

Annie LeeMay 24, 2022 – 7.27am Hong Kong
An auction for a controlling stake in a Chinese lithium mine has garnered 3448 bids. Such demand underscores the scramble to secure the battery metal that is key to the clean-energy transition.The 54.3 per cent stake in in Yajiang Snowway Mining Development, which owns the mine in the south-western province of Sichuan, was sold for about 2 billion yuan ($420 million), said JD.com’s judicial auction platform. That’s nearly 600 times higher than the starting price of about 3.35 million yuan.

https://www.copyright link/world/asia/one-mine-auction-draws-3448-bids-in-scramble-for-lithium-20220524-p5anx0#:~:text=Hong%20Kong%20%7C%20An%20auction%20for,to%20the%20clean%2Denergy%20transition.