|Bid||29.47 x N/A|
|Ask||29.48 x N/A|
|Day's Range||29.39 - 30.43|
|52 Week Range||22.75 - 39.97|
|Beta (3Y Monthly)||0.80|
|PE Ratio (TTM)||52.64|
|Earnings Date||Oct 23, 2019|
|Forward Dividend & Yield||0.18 (0.60%)|
|1y Target Est||51.00|
The London Metal Exchange is planning to create a committee to represent the interests of producers and users of lithium, a key component in electric car batteries, it said on Tuesday. Announcing the committee during LME Week, an annual gathering in London of metals consumers, producers, traders and brokers from around the world, the LME said it was likely to include representatives of nine companies. The LME is planning a lithium contract, and in June selected Fastmarkets to provide a reference price, but has given no timeline for an official launch.
The London Metal Exchange (LME) said on Tuesday it would create a committee to represent the interests and views of producers and users of lithium, a key ingredient in batteries. The LME said the committee was likely to include representatives of nine companies including vehicle makers Tesla and Jaguar Land Rover and lithium producers and processors Tianqi Lithium Australia, BASF and Albemarle. The LME plans a lithium contract, but has given no timeline for an official launch.
China's Tianqi Lithium Corp , one of the world's biggest lithium producers, said on Tuesday that its Australian unit had signed a long-term supply agreement with Swedish battery maker Northvolt. Tianqi Lithium Kwinana, which recently launched a processing plant in Western Australia, will supply lithium hydroxide, a chemical used in electric vehicle (EV) batteries, to Northvolt Ett from 2020-25, Tianqi said in a filing to the Shenzhen Stock Exchange.
Chile is making a renewed push for battery technology investment in return for access to its lithium deposits, piquing interest from China, Japan and Europe as global firms look to tie up supply of the metal vital for the shift to electric vehicles. The South American country, the world's No. 2 lithium producer, has held global road shows ahead of a second lithium-for-investment tender, according to officials and Chilean government documents seen by Reuters.
Moody's Investors Service has downgraded Tianqi Lithium Corporation's corporate family rating and the senior unsecured rating on the bonds issued by Tianqi Finco Co., Ltd and guaranteed by Tianqi Lithium to Ba3 from Ba2. "The downgrades reflect Moody's expectation that Tianqi Lithium's capital structure will remain weak and its leverage will stay elevated over the next 12 months, because of weaker operating performance," says Gerwin Ho, a Moody's Vice President and Senior Credit Officer.
Moody's Investors Service has assigned a Ba2 corporate family rating to Tianqi Lithium Corporation and has withdrawn the company's Baa3 issuer rating. At the same time, Moody's has downgraded the senior unsecured rating on the bonds issued by Tianqi Finco Co., Ltd and guaranteed by Tianqi Lithium to Ba2 from Baa3.
Moody's Investors Service has placed on review for downgrade the Baa3 issuer rating of Tianqi Lithium Corporation, and the Baa3 senior unsecured rating on the bonds issued by Tianqi Finco Co., Ltd and guaranteed by Tianqi Lithium. "The review for downgrade reflects Tianqi Lithium's slower than expected deleveraging, due to delays in executing its equity financing plan and a weaker operating performance amid volatility in lithium chemical prices," says Gerwin Ho, a Moody's Vice President and Senior Credit Officer. Tianqi Lithium's elevated financial leverage following its acquisition of a 23.8% stake in Sociedad Quimica y Minera de Chile S.A. (SQM, Baa1 stable) has weakened the company's capital structure and financial flexibility.
Moody's Investors Service says that Tianqi Lithium Corporation's (Baa3 negative) proposed rights issue -- once it completes -- is credit positive, but will have no immediate impact either on its Baa3 issuer rating or the Baa3 senior unsecured rating on the bonds issued by Tianqi Finco Co., Ltd and guaranteed by Tianqi Lithium. "The proposed rights issue, if completed, is credit positive for Tianqi Lithium because it provides equity funding to lower the company's debt level," says Gerwin Ho, a Moody's Vice President and Senior Credit Officer. On 23 April 2019, Tianqi Lithium received approvals from its shareholders on a rights issue that could raise proceeds of up to RMB7 billion.
April 29 (Reuters) - Tianqi Lithium Corp: * SAYS Q1 NET PROFIT DOWN 83.1 PERCENT Y/Y Source text in Chinese: http://bit.ly/2vuee2u Further company coverage: (Reporting by Hong Kong newsroom)
China's Tianqi Lithium Corp said on Wednesday it would nominate two Chileans and a U.S. businessman to the board of lithium miner SQM, candidates seen as 'safe choices' for the world's No. 2 lithium producer as it faces booming demand. Tianqi last year paid $4.1 billion for a near-quarter stake in SQM, as Chinese companies scoured the globe for the ultralight battery metal needed to ramp up Chinese production of electric vehicles. Tianqi's U.S. nominee, businessman Robert Zatta, worked as a chief financial officer until 2015 for Rockwood Holdings, a top competitor of SQM in Chile's Salar de Atacama, before it was purchased by the U.S.-based Albemarle, now the world's top lithium producer.
April 12 (Reuters) - Tianqi Lithium Corp: * SAYS ITS UNIT SIGNS AGREEMENT WITH SQM'S BIGGEST SHAREHOLDER PAMPA ON MATTERS RELATED TO CORPORATE GOVERNANCE IN SQM Source text in Chinese: https://bit.ly/2WY3cOC ...
April 11 (Reuters) - Tianqi Lithium Corp: * SAYS IT AIMS TO RAISE UP TO 7.0 BILLION YUAN ($1.04 billion) IN SHARE PLACEMENT TO REPAY LOANS FOR ITS PURCHASE OF 23.77 PERCENT STAKE IN SQM Source text in ...
Chilean lithium miner SQM on Thursday received environmental approval to expand its lithium carbonate production plant, the local environmental regulator told Reuters, marking a milestone as the company seeks to boost output of the coveted ultralight battery metal. The $400 million plant expansion, once complete, would allow the Chinese-backed SQM to eventually produce as much as 180,000 tonnes of lithium carbonate a year from its Atacama salt flat operations in Chile. Water has become a key sticking point for the expansion plans of both SQM and top competitor Albemarle, both of which operate in the Atacama desert, the world's driest.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Tianqi Lithium Corporation and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
* PREVIOUS TRADING SESSION MOVES: * SSEC +1.9 pct, CSI300 +2.0 pct, HSI +1.0 pct * Shanghai- HK daily quota used 4.7 pct * Shenzhen- HK daily quota used +2.0 pct * CNY official close 6.7279 per dollar ...
March 11 (Reuters) - Tianqi Lithium Corp: * SAYS IT PLANS TO INVEST 49.9 MILLION YUAN ($7.42 million) IN XIAMEN TUNGSTEN'S NEW ENERGY MATERIALS UNIT FOR 3 PERCENT STAKE Source text in Chinese: https://tinyurl.com/y2y4rgt2 ...
Feb 27 (Reuters) - Tianqi Lithium Corp: * SAYS PRELIM 2018 NET PROFIT UP 3.0 PERCENT Y/Y AT 2.2 BILLION YUAN ($329.38 million) Source text in Chinese: https://bit.ly/2IE1pvD Further company coverage: ($1 ...
Moody's Investors Service has confirmed Tianqi Lithium Corporation's Baa3 issuer rating and the Baa3 senior unsecured rating on the bonds issued by Tianqi Finco Co., Ltd and guaranteed by Tianqi Lithium. The ratings outlook is negative. This rating action concludes the ratings review initiated on 18 May 2018.