Zijin Buys China Lithium Miner Stake for $1.9 Billion (Correct)

Zijin Mining Group Co., an acquisitive Chinese copper and gold producer, has agreed to buy around a quarter of a domestic miner for $1.9 billion as it seeks to expand into lithium.

The mining giant agreed to pay 13.7 billion yuan for a 24.8% stake in lithium and potash producer Zangge Mining Co., it said in an exchange filing late Thursday. The investment, it’s single biggest ever, would give it “controlling power” in the local miner, Zijin said, without providing further details.

Its shares rose as much as 1.6% in Hong Kong on Friday.

Zijin’s interest in the ...