To drive the sustainable development of the Company, we have undertaken several strategic investments in the global lithium value chain based on our unique industry insights and our outlook for the global new energy industry. Through those capital investments, we support the leading participants in downstream new energy sectors, solidify own upstream supplies of lithium resources and further extend our business reach.
We purchased 23.77% A share in Chilean lithium miner Sociedad Quimica Y Minera De Chile ('SQM') at a total price of approximately $4 billion in December 2018. We are now its second largest shareholder with a total of 25.86% share in SQM. As a world-leading brine-based lithium producer, SQM operates the world-class brine resource, the Atacama Salt Lake. The transaction will benefit us with stable long-term financial returns and serve our goal of globalizing our business footprint.
Lithium Assets Investment