CATL closed one of the largest mines of lithium due to license problems that were surprised at the market.
Prices for lithium, which are used to produce batteries, have increased strongly. This happened in the midst of closing one of China’s largest lithium mines. Bloomberg reported this on Monday, August 11.
Contempory Amperex Technology (CATL), the world’s largest battery manufacturer, confirmed the closure of Jianxiawo’s mine in China after the termination of the license.
The Jianxiawo deposit provides about 6% of global lithium labor. His development license ended on August 9, and the company is now trying to expand it. It is expected that the stop will last at least three months.
Metal prices for batteries in the Guangzhou Futures Exchange on August 11 rose intensely. The sharing of Chinese company Tianqi Lithium grew 19%, and lithium ganfeng – by 21%. Lithuanian miners of Australia also showed a sharp increase: PLS sharing climbed 19%, Liontown resources – by 25%.
It is noted that today, lithium manufacturers are fighting a global excess offer. It has been strengthened by demand barriers for electrical cars, especially since the removal of US Donald Trump, the benefits of benefits for this industry.
Remember that in January in China, new lithium deposits were found. Thanks to this, the country has risen from the sixth to second place in the world in these metal reserves.
Scientists have developed an effective and friendly method for processing batteries
News from CORRESPONDENT.NET On the telegram and whatsapp. Subscribe to our channels https://t.me/KorresPondentNet and WhatsApp
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.