Ganfeng Lithium completed the acquisition of Lithea from Pluspetrol Resource for $962m.

Ganfeng Lithium, China's biggest lithium compounds producer, completed the acquisition of Lithea, which owns rights to two lithium salt lakes in Argentina's mineral-rich Salta province, from Pluspetrol Resource, an oil and gas exploration company, for $962m. The deal comes amid a rush to secure lithium resources as demand for the metal soars on expectations of rapid growth in electric vehicle demand.