Tianqi Lithium parent to sell 6% stake in struggling Chinese firm

China’s Tianqi Lithium, one of the world’s biggest lithium producers, said on Monday its controlling shareholder planned to sell around a sixth of its holding, which could raise more than $200-million in much-needed cash.

Tianqi has admitted liquidity problems following a deep fall in prices for lithium, used in electric vehicle batteries.

It said on Friday it was talking to banks about easing the terms of its debt, which includes a $3.5-billion loan to buy a stake in Chilean miner SQM in 2018.