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Tianqi Lithium

Controversies

Controversies tied to this brand in public sources. A listing is not a finding of fault.

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  1. 2020

    High-leverage acquisition of SQM stake triggers debt crisis

    In 2018, Tianqi Lithium acquired about 23.77% of Chile's SQM for USD 4.066 billion, of which about USD 3.5 billion relied on acquisition syndicated loans. Lithium prices subsequently fell, combined with high interest, and the company lost RMB 5.983 billion in 2019 and RMB 1.834 billion in 2020, and announced that about USD 1.884 billion in loans might not be repaid on time. In November 2020, the company disclosed that RMB 12.4 billion in loans maturing at the end of the month might be in default. Later, SQM's cooperation arrangement with the Chilean National Copper Corporation (Codelco) was upheld by Chile's Supreme Court; Tianqi's lawsuit failed, and the investment value faced impairment risk. It resolved the crisis by introducing strategic investment from Australia's IGO and other means; founder Jiang Weiping stepped down in 2023 and his daughter succeeded him.

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