Zhejiang Huayou climbs to two-month peak on Atlantic Lithium deal

Atlantic Lithium

07/05/2026 03:49

** Shares of Zhejiang Huayou Cobalt 603799.SS climb 4.2% to 70.85 yuan, their highest level since March 6

** The China-based lithium battery materials and cobalt new material products maker says it plans to buy Atlantic Lithium A11.AX for $210 million, to further deepen its business model centred on overseas resources, international manufacturing and to consolidate lithium resource portfolio

** Lithium-focused exploration and development firm Atlantic Lithium enters a deal for Huayou to buy all shares at $0.25486, sending the shares up as much as 16.1%

** YTD, Huayou stock up 0.4%, benchmark CSI300 Index .CSI300 up 5.2%

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))