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China debt crunch

China's struggling Tianqi Lithium seals deal to extend loans

Chairman pledges $620m in shares to win breathing space from creditors

Tianqi Lithium still owes $3.08 billion from its purchase of a large stake in Chile's SQM. Chile has the world's largest lithium reserves. (Photo by Nozomu Ogawa)

HONG KONG -- China's struggling Tianqi Lithium has secured two years' breathing room on some $3.08 billion in debt owed on its purchase of a large stake in a Chilean miner as part of an aggressive global buying spree.

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