Ganfeng Lithium and LG Chem are interested in acquiring Australian lithium mines

Bloomberg quoted insider people said that Ganfeng Lithium and South Korea's LG Chem are approaching Mineral Resources Ltd. to acquire a stake in a lithium mine in Australia.

The insider people said that the Japanese trading company Mitsui, as well as the Chinese battery manufacturer Ningde era, also expressed interest in the asset and in ensuring lithium supply.

Perth-based Mineral Resources said on Tuesday that it would begin the process of selling up to 49% of the project after receiving investment from other companies and intent to purchase the product.

According to company information, the Wodgina mine is located 100 kilometers south of Port Hedland in the Pilbura region of Western Australia. It is the world's largest hard rock lithium deposit and is expected to be valued at A$4 billion (US$3 billion).

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