Tianqi Lithium warns of potential default

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By Pan Yue
16 Nov 2020

Chinese company Tianqi Lithium Corp has warned of a possible default on an acquisition loan amid a liquidity crunch, as it struggles to make a repayment by the end of November.

The lithium extraction and production company said in a filing to the Shenzhen Stock Exchange over the weekend that it might fail to make the repayment of $1.884bn on a loan raised in 2018.

The firm said the amount accounted for more than 179% of its net assets.

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