Tianqi Lithium warns that it may default on credit debt to buy Chilean company SQM

Chinese company Tianqi Lithium Corp said it may not be able to make a payment of $1.88 billion on a loan obtained to buy a stake in Chile’s Sociedad Minera y Química de Chile (SQM). The warning comes as lithium prices remain down, just two months before the repayment of the $3.5 billion loan signed with a syndicate of banks led by China Citic Bank. – expires at the end of November. Tianqi admitted that a payment default would affect its daily operations and said its assets and bank accounts could be frozen.

Source: Reuters