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Tianqi Lithium warns of $1.9 bln default as loan date looms

Sep 29, 2020 - Nasdaq

B y Sept 29 (Reuters) - China's Tianqi Lithium Corp 002466.SZ said on Tuesday it may not be able to make a $1.88 billion repayment due in November on a loan taken out to buy a stake in Sociedad Minera y Quimica de Chile SQMA.SN (SQM) in 2018. The warning in a Shenzhen Stock Exchange filing, comes as lithium AM-995C-LTCB prices remain depressed just two months before the repayment on the loan, with a syndicate led by China Citic Bank 601998.SS , is due. "There is a possibility of default due to...