Ganfeng Lithium, a China-based company principally engaged in the research, development, production and sales of deeply processed lithium products, agreed to acquire a 49% stake in a lithium salt lake project from China Minmetals, a company engaged in the production and trading of metals and minerals, for $225m. The project uses the salt lake’s brines to make battery chemical lithium carbonate, as well as potassium chloride. The transaction would require regulatory approvals and that state-owned Minmetals would retain the mining rights.