[Australia’s Atlantic Lithium Secured Ghanaian Parliamentary Approval to Develop the Ewoyaa Project] Australia’s Atlantic Lithium secured approval from Ghana’s parliament to develop the Ewoyaa project—the country’s first lithium mine—under revised royalty terms linked to market prices. The approved 15-year lease introduced a sliding royalty scale for spodumene concentrates, set at 5% when prices are below $1,500/mt and 12% when they exceed $3,200/mt, replacing Ghana’s previous fixed 10% rate. The new structure followed broader reforms to the lithium and gold royalty framework passed earlier this month, paving the way for the project. The approval formally backed plans for the mine and processing plant, enabling Atlantic Lithium to advance financing discussions and move toward a final investment decision. The project had stalled after lithium prices pulled back from their peak at the end of 2022, prompting the company to push for more flexible fiscal terms. According to the company, Ewoyaa is expected to produce 3.6 million mt of lithium ore concentrates over 12 years, making it Africa’s third-largest lithium project under development. Atlantic Lithium said the project is the only lithium mine development project on the African continent aligned with the US, standing in sharp contrast to other projects backed by Chinese investment. Half of Ewoyaa’s production has been committed to Elevra Lithium, the merged entity of Piedmont Lithium and Sayona Mining, which had previously signed offtake agreements with Tesla and LG Chem. Company executives said details of the work completed in H2 2025 to improve project economics amid continued lithium price fluctuations and help define the next stage of development will be announced soon. Source: https://www.mining [Yahua Group Signed a Five-Year Spodumene Concentrates Procurement Agreement] Yahua Group announced on March 25 that it recently signed an Offtake and Sales Agreement with MGLIT EMPREENDIMENTOS LTDA (“MGLIT” or the “seller”), under which Yahua Group will purchase spodumene concentrates from MGLIT for five years after MGLIT achieves stable production of spodumene concentrates. In each contract year, the seller shall sell and deliver to Yahua Group no less than 120,000 dry metric tons of spodumene concentrates products. The signing of the agreement will provide multi-channel resource security for the company’s production of lithium chemical products. Source: https://www.cls.cn/telegraph [Atacama Salt Lake Expansion Will Drive Chile’s Lithium Production Growth in 2026] Chile is the world’s second-largest lithium producer after Australia. The country’s lithium metal production is expected to rise 10.1% in 2025 to 64,100 mt, mainly supported by higher production from SQM’s Atacama salt lake operations, driven by ongoing capacity expansion. Chile’s lithium production mainly consists of lithium carbonate sourced from brine in the Atacama salt lake in the Antofagasta Region. SQM and Albemarle are the country’s two major lithium producers, underscoring the high concentration of Chile’s lithium production landscape. Looking ahead, as capacity expansion continues to advance, supported by sustained growth in supply from the Atacama salt lake mine, the country’s lithium production is expected to increase by a further 4.9% in 2026 to 67,300 mt. Source: https://www.mining-technology.com/ [Exide Industries Announces Major Investment in Lithium-Ion Battery Cell Manufacturing] Strategic Investment Positioning in the Evolution of India’s Battery Manufacturing Industry Exide Industries’ investment in lithium-ion battery cell manufacturing marks a pivotal moment for India’s battery manufacturing ecosystem. Traditional energy storage enterprises must navigate between the mature lead-acid battery market and emerging opportunities in lithium-ion batteries. The transformation of this industry reflects broader changes in the global energy storage landscape, driven by the electrification trend. The electrification trend demands higher energy density, faster charging capability, and longer cycle life, performance metrics that traditional battery chemistries cannot meet. In addition, the systematic approach to capital deployment in India’s lithium-ion battery cell manufacturing sector reflects a mature investment pace aligned with production milestones and stages of market development. Recent industry developments indicate that established battery manufacturers are using multi-stage financing structures to maximize operational flexibility while minimizing execution risk as much as possible. Source: https://discoveryalert.com.au/

Capacity side, according to incomplete statistics, China’s alkaline electrolyzer market remained at 43.77 GW, and the PEM electrolyzer market remained at 2.7 GW, with no new capacity added. No offline delivery information was available this week. Project-related updates: Guohua (Ningxia) New Energy Co., Ltd.: A price inquiry procurement was issued for the pre-feasibility study report preparation service for the Guohua Ningxia 100,000-mt Green Hydrogen Energy Supply Base Project (chemical section). It was understood that the Ningdong water electrolysis hydrogen production project of Guohua Ningxia had already put into operation a scale of 20,000 Nm³/h, with 6,000 Nm³/h under construction. Datang Inner Mongolia Duolun Coal Chemical Co., Ltd.: An inquiry-based procurement was launched for the feasibility study and green methanol certification consulting technical services for the CNCEC Duolun Coal Chemical coal-based process biomass co-firing coupled with green electricity green methanol production project. It was understood that the Datang Duolun 150,000-kW wind and solar power hydrogen production integrated demonstration project was China’s first medium-to-large-scale technology demonstration project for off-grid wind and solar power hydrogen production deeply coupled with coal chemical engineering. It was invested in and constructed by Datang Duolun Ruiyuan New Energy Co., Ltd., with a total investment of approximately 1.3 billion yuan. Construction officially began in November 2023, hydrogen was successfully produced on December 29, 2024, and it was formally connected to grid and put into operation on January 17, 2025. Shaanxi Construction Installation Group Co., Ltd.: The Guyang-Baiyun Obo gas transmission pipeline project, undertaken by Shaanxi Construction Installation Group, reached a major milestone, with its Guyang initial station and valve chamber having successfully passed completion acceptance. It was reported that the gas transmission pipeline project has a 20% hydrogen blending transmission capacity and is a key planned construction project under the “county-to-county coverage in western Inner Mongolia” initiative in the Inner Mongolia Autonomous Region’s 14th Five-Year Plan for oil and gas development. The pipeline has a total length of 125 km, starting from the Guyang initial station and generally running from south to north, successively passing through Guyang County, Darhan Muminggan Banner, and the Baiyun Obo mining district in Baotou City, and ultimately reaching Barun Industrial Park. Jiamusi Hanya New Energy Co., Ltd.: The Jiamusi Hanya wind power hydrogen production synthetic green methanol integrated project was filed. The project is located in Heilongjiang Province, with a total investment of 4 billion yuan. Construction scale and contents: mainly the construction of a 300,000-mt green methanol production unit and a thermal energy storage unit, with a planned land area of approximately 350,000 m². Windey Energy Technology Group Co., Ltd.: The list of winning candidates was announced for the biomass gasification process package and technical services project for the first-phase Handan Biomass Green Methanol Project. The top-ranked winning candidate was East China Engineering Science and Technology Co., Ltd. It was understood that East China Engineering has extensive experience in the gasification field, with experience in the design, construction, EPC general contracting, commissioning, and operation of more than 100 gasifiers, covering various mainstream processes such as fixed bed, fluidized bed, and entrained-flow bed. Zhongqing Xinneng (Baotou) Equipment Co., Ltd.: The annual production project for 100,000 hydrogen storage cylinders for hydrogen two-wheelers was filed. The project is located in Kundulun District, Baotou City, Inner Mongolia Autonomous Region. It plans to build a production line with an annual capacity of 100,000 hydrogen storage cylinders for hydrogen two-wheelers, including production workshop renovation and supporting utilities. Annual output value will reach 100 million yuan. The planned construction period is from April 2026 to September 2026. Shenneng North (Otog Banner) Energy Co., Ltd.: The change to the 30 MW-class pure hydrogen gas turbine hydrogen energy storage demonstration project under the Otog Banner integrated wind and solar power hydrogen production and green ammonia synthesis project was filed. After the change, the project site is located in the eastern project area of the Ordos Otog Economic Development Zone, within Shenneng's water electrolysis hydrogen production station in Ordos City, Otog Banner, bounded to the north by the green hydrogen-to-green ammonia project under the Otog Banner integrated wind and solar power hydrogen production and green ammonia synthesis project, to the east by Jingsan Street, to the west by Jinger Street, and to the south by Weisi Road. Construction scale and content: the project covers an area of 500 sq m, of which the hydrogen gas turbine occupies 300 sq m. As a hydrogen energy storage demonstration project, it includes one 30 MW pure hydrogen gas turbine, generator, hydrogen storage equipment, and supporting facilities. Through wind and solar power generation and water electrolysis for hydrogen production, the project has a total hydrogen storage capacity of 360,000 Nm³, an effective hydrogen storage volume of 270,000 Nm³, and is equipped with 12 spherical hydrogen storage tanks, each with a water capacity of 1,875 m³. Jiyuan (Siping) Green Energy Co., Ltd.: The EPC tender for the hydrogen production works of the SPIC Green Energy Lishu wind and solar power hydrogen production, biomass-coupled green methanol project was released. It is understood that the project is located in the chemical park of the Siping New-type Industrialized Economic Development Zone, Lishu County, Siping City, Jilin Province. It adopts a green hydrogen coupled with biomass gasification process to synthesize 197,200 mt/year of methanol, started construction in August 2025, and is expected to be commissioned in September 2027. The project includes three hydrogen production workshops. Workshops No. 1 and No. 2 each are arranged with 12 sets of 1,000 Nm³/h alkaline electrolytic hydrogen production electrolyzers plus three sets of 4,000 Nm³/h hydrogen purification units; Workshop No. 3 is arranged with four sets of 1,000 Nm³/h alkaline electrolytic hydrogen production electrolyzers plus one set of 4,000 Nm³/h gas-liquid separation unit, among others. Sinopec Sales Co., Ltd. Tibet Petroleum Branch : The tender notice for Section I of the general construction contracting project for the Shannan hydrogen-oxygen combined supply project was released. The construction site is in Naidong District, Shannan City, Tibet Autonomous Region; the planned construction period is 180 days; the estimated contract value for the section is 27.23 million yuan (tax included); the hydrogen production portion of the section tender includes an IGBT rectifier and control system skid, hydrogen production skid, oxygen purification unit, pure water machine and chiller unit skid, and related supporting facilities, while the hydrogen refueling portion includes a 35 MPa dual-nozzle hydrogen dispenser, 45 MPa hydrogen compressor skid, 45 MPa hydrogen storage cylinder bank, and sequence control panel. Ming Yang Smart Energy Group Co., Ltd.: It held a signing ceremony at Ming Yang Group headquarters for the hydrogen-fueled gas turbine complete-unit R&D and manufacturing project with the People's Government of Hudai Town, Binhu District, Wuxi City, Jiangsu Province, with both parties formally reaching a strategic cooperation agreement. Sichuan Zhongke Hydrogen Energy Technology Co., Ltd. : First Public Notice of Environmental Impact Assessment Information for Phase II of the Integrated Energy Station Project Featuring Hydropower, Wind and Solar Power, Hydrogen, and Natural Gas Multi-Energy Complementarity. According to the document, Phase II of the integrated energy station project featuring hydropower, wind and solar power, hydrogen, and natural gas multi-energy complementarity is located in Nanchong High-tech Zone, with Sichuan Zhongke Hydrogen Energy Technology Co., Ltd. as the project developer. It will build an integrated hydrogen production and refueling station, along with supporting public utility facilities, to realise the hydrogen refueling function of the integrated energy station for hydrogen-powered vehicles, and will also build one hydrogen energy industry R&D production site. GRINM Engineering Institute Co., Ltd. : The new materials pilot platform in Huairou Science City completed final acceptance upon completion, and four key pilot lines, including solid-state hydrogen storage and ceramic co-firing materials, entered the stage of commissioning and line integration. Among them, the total investment in the solid-state hydrogen storage project is 14.5 million yuan, and the total investment in the ceramic co-firing materials project is 12 million yuan, which will support the commercialisation of new material achievements and the industrialisation of hydrogen energy and key electronic materials. Policy Review​ 1. The Ministry of Industry and Information Technology, the Ministry of Finance, and the National Development and Reform Commission (NDRC) issued a notice on carrying out pilot work for the comprehensive application of hydrogen energy. The document states that by 2030, hydrogen energy in city clusters is expected to achieve large-scale application across diverse fields, and the average price of hydrogen for end-use is expected to fall below 25 yuan/kg, with efforts to reduce it to around 15 yuan/kg in certain advantaged regions; national fuel cell vehicle ownership is expected to double from the 2025 level, with efforts to reach 100,000 units. Through the expansion of application scale, it will promote innovative breakthroughs in hydrogen energy application technologies, processes, and equipment, realise iterative upgrades of fuel cells, electrolyzers, storage and transportation devices, and materials, and promote hydrogen energy as a new economic growth driver to support a comprehensive green transformation of economic and social development. 2. The People's Government of Hunan Province issued the Hunan Province 2026 Plan for National Economic and Social Development. The document states that efforts will be made to advance the circular economy and cleaner production and build a number of zero-carbon parks and zero-carbon factories. It is expected to accelerate the green and low-carbon transformation of the energy system, optimise the management of new energy project pipelines, and speed up the construction of key wind and solar power projects. It will expand green energy consumption scenarios and implement a three-year doubling plan for the service capacity of charging facilities. It will also actively develop the hydrogen energy industry and expand the scale of natural gas utilisation. 3. With the approval of the National Energy Administration, the Standardization Technical Committee for Hydrogen Energy in the Energy Industry was established in Beijing. The establishment of this committee was intended to improve the industry standards system, lead technological innovation, and regulate market order. Enterprise Developments Haida Qingneng Ship (Dalian) Co., Ltd.: The nation's first inland 64-TEU hydrogen fuel cell-powered container vessel, Dongfang Qinggang, for which it supplied the powertrain, successfully completed its first long-distance trial voyage. The entire system operated stably, the navigation performance was excellent, and the trial voyage was a complete success. Hydrogen Power (Beijing) Technology Services Co., Ltd.: 100 hydrogen-powered refrigerated trucks were officially delivered to Hydrogen Cheng Times and will be operated by Hydrogen Power Technology as the agent. Rongcheng New Energy Group: Successfully delivered 50 hydrogen-powered heavy trucks to Cangzhou Huagang International Logistics Co., Ltd. This batch of vehicles will be put into service on the transport route from Huanghua Port to the Shandong Lubei Aluminum Industry Base. CSSC Engine Co., Ltd.: Its WinGD6X72DF-A-1.0 ammonia-fueled low-speed engine successfully passed functional integration approval and bench testing, and was successfully delivered in Qingdao. It is understood that this was the first ammonia-fueled marine engine in China to be formally delivered as a commercial product. Aerospace Engineering Company: Signed contracts for two major green hydrogen engineering projects in succession, namely the hydrogen refueling station water electrolysis hydrogen production project of Zhongqing Energy Development (Shandong) Co., Ltd., and the electrolytic hydrogen production unit project for the Inner Mongolia Fenglü green hydrogen-coupled coal-to-olefins project. For these two projects, Aerospace Engineering Company will provide a total of 16 sets of HTJSDJ-1000/1.6 alkaline electrolyzers, together with supporting post-processing systems and utility engineering equipment, and will be responsible for engineering design. This cooperation marked Aerospace Engineering Company's simultaneous breakthroughs in the two major fields of green transportation and green hydrogen chemicals. Qinghang Times (Shenzhen) Technology Co., Ltd. : Qinghang Times was established on January 5, 2026, with a registered capital of 1 million yuan and legal representative He Rongjie. Founded by a Tsinghua University master's and doctoral team, it received support from Tsinghua entrepreneurship and innovation platforms including Tsinghua i-Space and Tsinghua Chuang+, and was selected for the Sci-Tech Innovation Light "Future Tech Innovators Program." With a technical solution combining liquid hydrogen storage and a high-temperature PEM hydrogen-electric coupling system, it increases aircraft driving range by more than 10 times and payload capacity by 2-3 times. Recently, it completed seed-round financing of several million yuan, with the investor undisclosed. Shenzhen Hydrogen Zhi Energy Co., Ltd.: Completed A+ round financing, with Shenzhen Energy Investment as the investor. Anhui Mashui New Energy Technology Co., Ltd. : Anhui Mashui Technology completed A-round financing of over 100 million yuan, led by NIO Capital. This round of funding will be used primarily to fulfill large orders, increase R&D reserves, support new factory construction, and cover daily operations, so as to drive the integration and upgrading of the industry chain. China Energy Engineering Corporation Research Institute: The kick-off meeting for the international standard High-Pressure Liquid Hydrogen Pump for Hydrogen Refueling Stations, led and submitted by the Low-Carbon Institute, was held online. Since the standard was approved for project initiation in November last year, this meeting clarified the advancement plan and technical roadmap, bringing together 20 experts from China, the United States, Germany, France, Russia, Japan, and the European Industrial Gases Association, who reached consensus on core issues such as the standard’s scope and application scenarios, thereby laying a solid foundation for the high-quality and timely delivery of the standard. Jiangsu Guofu Hydrogen Energy Equipment Co., Ltd. : A delegation from Thailand’s water, electricity, and related institutions came to China for exchanges on the new energy industry and made a special trip to Zhangjiagang, Jiangsu, to visit the rooftop PV hydrogen production project jointly developed by Zonergy and Guofu Hydrogen Energy. It was understood that the project relied on a distributed PV system installed on factory rooftops and used PV power generation to provide clean and stable electricity for enterprise production and energy applications, balancing efficient energy utilization with green development; at the same time, it integrated hydrogen energy application scenarios and was equipped with an ESS to ensure a stable energy supply for hydrogen production. It is a leading distributed PV hydrogen production demonstration project in China by scale, showcasing China’s advanced achievements in the integrated development of PV and hydrogen energy. Beijing SinoHytec Co., Ltd.: Signed a strategic cooperation agreement with Haitai Solar and the Hebei Hydrogen Energy Society, relying on the National Energy Administration’s first batch of hydrogen energy pilot policies and centering on the Zhangjiakou-Chengde-Tangshan hydrogen energy regional pilot to advance the deep integration of “government, industry, academia, research, and application.” The three parties will focus on the Kangbao-Caofeidian long-distance hydrogen pipeline with annual hydrogen transmission capacity of 1.55 million mt, creating a “hydrogen production in Zhangjiakou and Chengde, application in Tangshan” model. Haitai Solar will provide SinoHytec with a stable hydrogen supply and storage and transportation services, addressing the industry’s high storage and transportation costs and supporting high-quality regional hydrogen energy development and the implementation of the “dual carbon” goals. The Sixth Academy of China Aerospace Science and Technology Corporation: Released four new hydrogen energy products in Beijing, including an onboard liquid hydrogen system, liquid hydrogen refueling equipment, a liquid hydrogen tank container, and an alkaline electrolyzer, and also released a blue book on the hydrogen energy industry to help build the hydrogen energy industry ecosystem. Beijing Hydrosys Technology Co., Ltd.: Its self-developed hydraulic-driven hydrogen compressor underwent rigorous assessment and passed EU CE certification. Patent Applications 1. Shanghai Institute of Ceramics, Chinese Academy of Sciences (China) disclosed patent CN2025110028 and developed a ceramic-based anion exchange membrane, with a laboratory-tested service life of up to 80,000 hours. 2. Johnson Matthey (UK) filed patent WO2025109876, disclosing an Fe-Ni-Mo ternary non-precious metal catalyst formulation with activity close to that of platinum-based materials. Technology Footprint/Technical Specifications 1. A joint team from Xi’an Jiaotong University and Peking University jointly conducted R&D on a new-type osmium-based catalyst, significantly improving the efficiency and economics of hydrogen production via AEM water electrolysis and supporting the large-scale deployment of low-cost green hydrogen. 2. Johnson Matthey and Syensqo achieved efficient recycling and reuse of platinum group metals and ionomers in PEM fuel cells and electrolyzers, significantly reducing the carbon footprint. 3. Relevant research teams from the School of Electrical Engineering at Xi’an Jiaotong University and the State Key Laboratory of Electrical Materials and Electrical Insulation successfully developed the Ru/Ti3C2Ox@NF bifunctional electrocatalyst for seawater electrolysis. 4. The group standard Technical Specification for Hydrogen Production by Coupled Electrolysis with Wind and Solar Power, PV+ESS, and Green Electricity (No. T/CIEP 0272—2025) was released and implemented by the China Industrial Environmental Protection Promotion Association. Zhongneng Dayou Energy Technology Co., Ltd. successfully developed a 100 kW-class PEM electrolyzer hydrogen production multi-field coupling test device. 5. GKN Powder Metallurgy announced that it has developed a next-generation high performance, high-porosity, high-purity porous transport layer (HP-PTL) for proton exchange membrane (PEM) electrolysis.

RenewSys India has inaugurated a 3 GW 'AI-powered', fully automated solar module manufacturing facility in Khopoli, Maharashtra, expanding its total module capacity to 5.6 GW. The 65,000 sqm plant integrates advanced production technologies and digital monitoring systems to ensure consistent product quality for its 'TOPCon G12R' modules. Located near Mumbai, the site offers strong multimodal connectivity to enhance supply chain efficiency for both domestic and export markets. Looking ahead, RenewSys targets 24 GW of total PV component capacity and plans to install a 4.5 GW solar cell production line by fiscal year 2026-27.

【SMM Steel】SAIL selected Primetals Technologies to supply a new pellet plant, three 165-t ladle furnaces, and two 165-t RH degassers for its IISCO expansion. The 4.2 Mt/y pellet plant will use a 576-sqm straight-grate design. Primetals will also provide digitalization and key equipment. Secondary metallurgy gear will improve steel quality. Commissioning is set for 2029, enabling IISCO to produce HRC and API-grade steel.

Chilean lithium producer SQM announced that its Q4 net profit increased due to favorable market conditions which raised the average price of lithium and thus boosted performance. The world's second-largest lithium miner stated that its Q4 net profit was $183.8 million up 53% YoY. Revenue for the quarter grew by 23.3% reaching $1.32 billion compared to $1.07 billion in the same period last year. Gross profit for the quarter rose 52.7% to $448.5 million. SQM CEO Ramos said, "Our Q4 2025 results reflect record sales from our two major lithium businesses (Nova Andino Litio and the International Lithium Division)." "In November 2025, we began to see early signs of an improving supply-demand balance primarily driven by stronger-than-expected ESS demand."

SQM reported the increase attributing the result to a favorable market pricing environment that boosted average lithium prices and consequently enhanced performance.The world's second-largest lithium producer stated that its net profit for the fourth quarter reached $183.8 million, a 53% increase compared to the same period last year. Revenue for the quarter grew by 23.3% to $1.32 billion, up from $1.07 billion in the year-ago period. Gross profit for the quarter increased by 52.7%, reaching $448.5 million.CEO Ricardo Ramos: "Our Q4 2025 results reflect record sales volumes from both of our lithium businesses." He added that in November, they began seeing early signs of an improving supply-demand balance, driven by stronger-than-expected demand for energy storage systems.

Chinese carmaker BYD and metals giant Tsingshan have abandoned plans to build lithium processing plants in Chile, local newspaper Diario Financiero reported on Wednesday.

[KoBold, Backed by Gates and Bezos, to Acquire Stake in Congo Lithium Project] KoBold Metals, a mining startup backed by Bill Gates and Jeff Bezos, is expanding its footprint in the Democratic Republic of the Congo (DRC) after reaching a framework agreement with AVZ Minerals to acquire its stake in the Manono lithium mine. The agreement aims to resolve a long-standing ownership dispute and develop one of the world's largest hard-rock lithium deposits, a key component in EV batteries. The Manono project, located in southeastern DRC, has been mired in legal disputes since 2023, when the Congolese government revoked AVZ's mining rights and subsequently awarded a portion of the deposit to China's Zijin Mining. KoBold's proposed acquisition includes a framework for AVZ to receive appropriate compensation for relinquishing its interests, enabling KoBold to develop the southern part of the deposit while Zijin Mining retains control of the northern region. The company said the deal would allow KoBold to invest $1 billion in developing the project and bring its lithium resources to Western markets. This strategic move aligns with the US government's efforts to secure critical mineral supplies and reduce reliance on mineral sources controlled by China. US Senior Advisor for Africa Judd Devermont recently met with DRC President Félix Tshisekedi to discuss strengthening bilateral relations and promoting US investment in the country's mining sector. In February this year, the DRC offered the US exclusive access to critical minerals and infrastructure projects in exchange for security assistance, as its eastern region faces insurgencies backed by neighboring Rwanda. The Manono deposit is estimated to hold 669 million mt of lithium resources, making it a crucial asset in the global transition to clean energy. The acquisition, pending the signing of a final agreement and regulatory approvals, is expected to expedite the development of this critical resource while also benefiting the economic interests of the US and the DRC. KoBold, which focuses on using artificial intelligence to identify undeveloped critical mineral deposits, has approximately 60 active projects across four continents. In Africa, its primary focus is on Zambia, where the company discovered the largest copper deposit in a century last year. Entering the DRC means the company will have operations in two of Africa's largest copper-producing countries. Neither KoBold nor AVZ has disclosed the financial terms of the agreement.The completion of the deal depends on resolving ongoing legal disputes and obtaining necessary approvals from relevant authorities. Source: mining.com 【BYD and Tsingshan Holding Abandon Plans to Build Lithium Plant in Chile】 According to a report by local newspaper Diario Financiero on Wednesday, Chinese automaker BYD and metals giant Tsingshan Holding have abandoned plans to build a lithium processing plant in Chile. BYD has submitted a withdrawal notice to the Ministry of National Assets. Tsingshan Holding informed Corfo, Chile's Economic Development Agency, through its subsidiary Yongqing Technology that it would no longer proceed with its lithium battery project. Corfo confirmed the withdrawal and noted that Tsingshan Holding had not yet been officially registered in Chile. In 2023, Corfo had selected these two companies as strategic investors to develop value-added lithium products, such as cathode materials and batteries. The agreement included obtaining lithium carbonate at preferential prices and with guaranteed supply from SQM (Chile's state-owned partner and the world's second-largest lithium producer) until 2030. In exchange, the two companies committed to investing a total of US$523 million in Chile and creating nearly 1,200 jobs. The collapse in lithium prices, global market instability, and delays in bureaucratic procedures derailed both projects before the contracts could be finalized. BYD was the first to raise concerns. Diario Financiero reported that a year ago, the company had pointed out delays in acquiring land for its US$290 million cathode material plant project in Antofagasta, which was originally planned to produce 50,000 mt of lithium iron phosphate (LFP) annually. The plant was intended to produce cathodes, the most expensive component in EV battery cells. Corfo acknowledged the company's concerns and stated that BYD had requested further information to reassess its plans. BYD, known for producing affordable EVs and having in-house manufacturing capabilities, had originally planned to anchor its LFP cathode material production in northern Chile. Tsingshan Holding, as one of China's largest privately-owned conglomerates, had originally planned to invest US$233 million to build a battery plant in Mejillones, north of Antofagasta. Both projects have now been officially shelved. Chile's current lithium strategy, launched by President Gabriel Boric in 2023, requires companies like Albemarle (NYSE: ALB) and SQM (NYSE: SQM) to allocate a portion of their production at preferential prices to companies willing to invest in local lithium-based technologies. Despite the setback of BYD and Tsingshan Holding's withdrawal, Chile remains a core player in the global lithium market, with production second only to Australia. Source: mining.com [Lake Resources Initiates Strategic Review of Argentine Lithium Project] Australia's Lake Resources announced on Wednesday that it has initiated a strategic review of its flagship Kachi lithium project in Argentina, stating that despite the surge in long-term demand for battery metals, the project's assets remain significantly undervalued. The review aims to explore various options, including selling a stake in the project and the potential sale or merger of the lithium developer. According to the company, the Kachi lithium brine project is the largest independent project in the "Lithium Triangle" region of South America, with total resources exceeding 10.6 million tonnes of lithium carbonate equivalent (LCE). Lake Resources stated that the decision to explore strategic alternatives is also supported by recent cases where companies with lithium projects in Argentina have received proposals that far exceed their current market capitalizations. Source: mining.com [Peloton Minerals Obtains Drilling Permits for North Elko Lithium Project in Nevada] On May 6, 2025, Peloton has obtained two drilling permits from the US Bureau of Land Management (BLM) within the boundaries of the North Elko Lithium Project (NELP) in northeastern Nevada, covering 442 mining claims, 37 square kilometers, or 14.25 square miles. Under these permits, a total of 24 drill pads have been approved, with the possibility of adding more drill pads with BLM approval. One drilling permit covers the eastern region of NELP, and the second permit covers the central and western regions. The maximum disturbance area for each drilling permit is limited to 5 acres (totaling 10 acres). According to the BLM's calculation formula, the total disturbance area for the current drilling plan and drill pads between the two permits is 5.12 acres. In early 2023, the relevant mineral exploration company announced the discovery of significant clay lithium resources in an area adjacent to the NELP mining claims it has held since 2018. Since the discovery, the company has reported an inferred resource of 11.24 million tonnes of LCE, with a grade of 3,010 ppm Li, considered the highest-grade lithium clay resource in North America. NELP is currently in the drilling phase, following surface exploration work conducted by Peloton, including airborne hyperspectral imaging, soil geochemical surveys across the entire mining area, geological mapping, prospecting and sampling, X-ray diffraction analysis of over 500 surface samples, and tTEM surface geophysical surveys. The results of each phase are summarized below: Hyperspectral imaging data shows that lithium-bearing clay layers frequently outcrop at the surface across almost the entire mining area. Soil geochemical analysis indicates elevated lithium anomalies (up to 18 times the background value), covering an area exceeding 25 square kilometers or 9.65 square miles. Geological mapping indicates that NELP is located in an alkaline paleolake environment within a tectonic depression bounded by north-dipping normal faults. X-ray diffraction analysis reveals that NELP is situated within layered alkaline lake sediments and pyroclastic rocks. The mineralogical characteristics of the layered volcanic rocks are consistent with magma that could be a source of lithium. tTEM surface geophysical data show a clay-rich horizon beneath almost the entire {{ore}} property. Source: junior mining network

[Trump Signs Proclamation to Provide Compensation for Tariffs on Auto Parts] US President Trump signed a proclamation on the 29th, allowing for a certain degree of compensation for automakers that import auto parts and assemble vehicles in the US. This latest move reflects the ongoing opposition from various sectors in the US to the government's tariff policies, placing increasing pressure on the administration. According to the proclamation, the compensation is intended to offset some of the tariffs on auto parts assembled in the US, with the maximum compensation amount reaching 3.75% of the vehicle's retail price. This compensation cap will be reduced to 2.5% of the vehicle's retail price in the second year. The previously announced 25% tariff on imported cars by Trump officially took effect on April 3, while the measure to impose a 25% tariff on key auto parts is scheduled to take effect on May 3. (Financial Associated Press) [US Commerce Secretary Lutnick: Tariff Relief for Parts Only Applies to Finished Product Producers of Manufactured and Sold Cars] US Commerce Secretary Lutnick stated that tariff relief for parts only applies to finished product producers of manufactured and sold cars; parts under the USMCA will not be subject to tariffs, and relevant policies remain unchanged; two years is the agreed-upon timeframe to provide manufacturers with sufficient time to establish supply chains. There will be no relief period for a third year. (Financial Associated Press) [LG Energy Solution and France's Derichebourg Establish Joint Venture to Build Battery Recycling Plant] LG Energy Solution announced the establishment of a battery recycling joint venture with French environmental service provider Derichebourg, which will invest in and construct a battery recycling plant. Both companies will hold a 50% stake each. The plant will be located in Bruyères-sur-Oise, northern France, and is expected to commence construction in 2026 and begin operations in 2027, with an annual processing capacity exceeding 20,000 mt. (Financial Associated Press) [Tianqi Lithium: Q1 Net Profit of 104 Million Yuan, Turning Loss into Gain YoY] Tianqi Lithium (002466.SZ) released its 2025 Q1 report, reporting operating revenue of 2.584 billion yuan, down 0.02% YoY. Net profit attributable to shareholders of the publicly listed firm was 104 million yuan, turning a loss into a gain YoY. The main reasons include the shortened pricing cycle for lithium ore at the company's controlling subsidiary, Windfield Holdings Pty Ltd, and the expected YoY increase in the performance of its associated company, SQM, in Q1 2025. [Ganfeng Lithium: Q1 Net Loss of 356 Million Yuan] Ganfeng Lithium (002460.SZ) announced that its operating revenue in Q1 2025 was 3.772 billion yuan, down 25.43% YoY, and net profit attributable to shareholders of the publicly listed firm was -356 million yuan. The main reasons are the decline in lithium prices and the increase in the proportion of domestic sales, leading to a YoY decrease in cash received from the sale of goods and provision of services, as well as higher bill discounting interest rates, prompting the company to actively control the scale of bill discounting. Meanwhile, the decline in the share price of Pilbara Minerals Limited, a financial asset held by the company, resulted in a loss due to changes in fair value, but the company partially hedged this impact through the active use of collar option strategies. [Dongfeng Limited Responds to the Closure of Wuhan Plant] Dongfeng Motor Co., Ltd. confirmed that its Wuhan plant is currently operating normally and will not be closed in the future. Dongfeng Limited stated that the company will develop steadily and orderly with the support of its parent companies, Dongfeng and Nissan, and will continue to accelerate its transformation towards new energy and intelligence to better meet user needs. The Wuhan plant is a factory built using digital and intelligent technologies, capable of producing various car models, including internal combustion engine vehicles, hybrid vehicles, and pure electric vehicles. Related Reading: The auto industry started Q1 with double-digit growth in both production and sales. What are the expectations for Q2 under the shadow of tariffs? [SMM Special Topic] SMM: Global ESS market demand may reach around 470 GWh by 2030. How will various markets perform? March battery material import and export data released. Imports of spodumene and lithium carbonate showed one decrease and one increase MoM. How did they perform? [SMM Special Topic] Spot prices of refined cobalt continue to rise. High raw material costs lead to production cuts at some smelters. Prices of this cobalt salt may remain firm. [Weekly Observation] [SMM Analysis] A Review of This Week's Scrap Spot Price Trends (April 21-27, 2025) [SMM Weekly Review of Manganese Ore] Market purchases are sluggish. Spot prices are under pressure. [SMM Weekly Review of Lithium Carbonate Market] Demand fails to meet incremental expectations. Prices fall by over 1,000 yuan WoW! 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See Industry Leaders Gather to Discuss Hot Topics! SMM: Global LFP Production Expected to Continue Rising, with Subsequent Prices Still Greatly Influenced by Lithium Carbonate [New Energy Summit] [SMM Analysis] China Imported a Total of 534,500 mt of Spodumene in March 2025 [SMM Data] March 2025 Import and Export Data of LiPF6 March's Import and Export Situation of LFP Materials [SMM Analysis] [SMM Analysis] March's Import and Export Volumes of Ternary Cathodes Released, with Imports Up 31% MoM and Exports Up 36% MoM [SMM Analysis] Market Warms Up in March, with Increased Exports of Artificial Graphite [SMM Analysis] Analysis of March's Export Situation of Ternary Cathode Precursors

①The first-quarter reports of the "two lithium giants" were released, with Tianqi Lithium turning losses into profits and Ganfeng Lithium narrowing its losses. ②Despite some signs of recovery on the demand side, the mismatch between the previous capacity expansion and demand in the lithium carbonate industry has not yet ended. Based on comprehensive estimates by industry institutions, the lithium carbonate market will continue to face a fundamental pattern of supply surplus in 2025.