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.

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,

New site signals a potential 30 million ton addition to China's lithium resources, increasing global share from 6 to 16.5 percent.

One cache, found along the borders of Nevada and Oregon, potentially holds as much as 40 million metric tons of lithium, while Chinese state media said reserves had been found that upped its share of global lithium supplies from 6% to 16.5%, although details were scant.

China has significantly increased its lithium reserves, positioning itself as the world’s second-largest holder of the critical metal for electric vehicle (EV) batteries and renewable energy technology.