China's Zijin Mining said on Friday it was in talks with Zangge Mining's top two shareholders to buy a potential controlling stake in the company. Zijin is in talks with Tibet Zangge Venture Capital and Ningbo Meishan Bonded Port Area Xinsha Hongyun Investment Management,

Zijin Mining Group Co., one of China’s most acquisitive miners, says it’s in discussions to buy shares and potentially to take over Zangge Mining Co. Ltd. a lithium and potash producer.

Lithium’s crash since late-2022 — prices have slumped nearly 90% — has hammered listed producers and fueled a spurt of dealmaking. Rio Tinto Group, the world’s second-biggest mining group, last year agreed to buy Arcadium Lithium Plc for $6.7 billion.