BEIJING, Jan 16 Reuters A subsidiary of China39;s Zijin Mining plans to buy a 24.8 stake in Zangge Mining for 13.7 billion yuan 1.87 billion and gain controlling right in the firm, Zijin announced in a stock exchange filing on Thursday.

The deal would allow Zijin to consolidate its ownership over the Julong copper project in Tibet, its joint venture with Zangge.

It also underlines Zijin39;s attempts to cash in on growing demand for battery metals, as it prepares to start production at its first lithium exploration project in the Democratic Republic of Congo next year.

1 7.3316 Chinese yuan renminbi

Reporting by Yukun Zhang and Ryan Woo; Editing by Toby Chopra

Source Reuters