China Salt Lake Industrial Group Co, Ltd, a joint venture between China Minmetals Corp and Qinghai province, was officially inaugurated in Qinghai on Saturday.

China Salt Lake, possessing mature potassium chloride processing technologies, leads the world in large-scale potash and lithium extraction technologies from salt lakes, it said.

As a key strategic resource for China, Qinghai's salt lake reserves play a vital role in national resource security. China Salt Lake is currently the country's largest production base for potash and lithium salts derived from salt lakes, it said.

Lithium is a key metal used in battery production for the EV industry, as well as power storage facilities used in the wind and solar power sectors. Much of China's lithium resources are sourced from salt lakes in Qinghai and the Xizang autonomous region.

The joint venture will further boost technological and financial capabilities for developing China's abundant salt lake resources, which also aligns with the government's strategic priority of enhancing domestic resource security.