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.

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

Recent finds, including a massive deposit in Tibet, will help meet demand for metal, which is key for EV batteries and other technologies.

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.

The company primarily produces potash but derives around one-third of its revenue from lithium extracted from salt lakes in Qinghai.