A government probe into potential mining violations threatens the production of somewhere between 8% and 13% of the world's lithium supply
The crackdown in Yichun, Jiangxi province, follows a local lithium frenzy over the past year as miners raced to feed rampant demand for the battery material — and to benefit from record global prices. Now, they’re grappling with a close-up inspection by environment officials sent from Beijing.
“This supervision may mean that the inspection and control over lepidolite mining in China will be more stringent in the future,” said Susan Zou, analyst at Rystad Energy.Companies with operations in Yichun include major battery manufacturers Contemporary Amperex Technology Co. and Gotion High-Tech Co., whose shares both fell more than 1% on Monday. Neither firm responded to calls and emails for comment.
According to Goldman Sachs Group Inc., the Chinese car industry’s demand for lithium has fallen by more than half in recent months, a dramatic reversal that will drive a further slump in the market. Prices in China have dropped more than 30% from last year’s peak.
Danmark Seneste Nyt, Danmark Overskrifter
Similar News:Du kan også læse nyheder, der ligner denne, som vi har indsamlet fra andre nyhedskilder.
Boy, 13, charged after boy, 14, stabbedA boy, 13, has been charged with attempted murder after a 14-year-old boy was stabbed in Bournemouth this week.
Læs mere »
Hands on: Xiaomi 13 Pro review – a camera-led flagship for the worldXiaomi just launched the Xiaomi 13 series for international audiences and we have hands-on reviews of both the Xiaomi 13 and the Xiaomi 13 Pro
Læs mere »
Swap Scotland's tourist traps for 13 fascinating places, including a utopian villageThere's plenty of reason to linger on a holiday in Scotland, and the world's first Unesco Trail offers up fresh inspiration
Læs mere »
Dead Cells adds 13 new achievements with Return to Castlevania DLCDead Cells' Return to Castlevania DLC launches next week, and we have just picked up 13 new achievements for the big crossover expansion.
Læs mere »
Glickenhaus doubts environmental benefits of WEC tyre warming ban🗣️'We now have to drive around to warm up the tyres - how much extra pollution will those five minutes cause?' Jim Glickenhaus has voiced his scepticism at the WEC's decision to ban tyre warmers for the 2023 season on environmental grounds ⬇️
Læs mere »