James HesterChinese investment group NextView Capital has acquired a near 20% stake in London-listed lithium producer Bacanora Minerals.
Bacanora shares were trading over 9% higher on Friday as at 1057 GMT.
NextView paid over £31m and will receive a guaranteed supply of 5,000 tonnes per year of lithium at market prices.
Lithium has become an increasingly important commodity this year as it is used in the batteries of electric cars.
Development
Bacanora said it would use NextView´s invested capital to develop its Sonora Lithium Project in Mexico.
“NextView Capital believes that Bacanora has a central role to play in the field of new energy upstream lithium resources and that NextView is ideally placed to assist it in achieving its growth potential,” said Yaping He, managing partner and president of NextView.