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,

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.