FAP, April 20 / PRNewswire-Asianet /-- Tianqi Lithium (09696.HK002466.SZ) issued an announcement on the Hong Kong Stock Exchange that the company's controlling subsidiary TLEA had planned to purchase an equity stake in Australia's Essential Metals Limited (ASX:ESS) because it had not been approved by the other party's general meeting today. The transaction involves a total capital of about 632 million yuan. Tianqi Lithium Industry said that the termination of this transaction will not adversely affect the company's current lithium concentrate raw material supply and lithium salt product processing.