China 's founder group has become the largest shareholder in Australia 's Altura Mining after buying 250 million ordinary shares for AUD22.4 m ( $ 660 m ) , giving it a holding of 19.4 % . The acquisition came shortly after Shanshan , a lithium - ion battery materials supplier , acquired an 11.8 % stake in Altura from global J&R Optimum Energy .
China's Ningbo Shanshan has become the majority shareholder in Australia's Altura Mining after buying 200 million ordinary shares for AUD22.4m ($15.8m), giving it a holding of 19.4%. The purchase came weeks after Shanshan, a lithium-ion battery materials supplier, acquired an 11.8% stake in Altura from Shaanxi J&R Optimum Energy.