Rio Tinto said it will slow the construction pace of the lithium processing plant for the Nemaska Lithium Project in Bécancour, Quebec, Canada, due to a sharp rise in project costs. Most contractors are expected to halt work in the coming weeks, with only a minimal number of workers remaining on site to maintain operations. The plant is currently more than 70% complete and is planned to produce battery-grade lithium hydroxide, with operations originally scheduled to begin in 2028. Full construction activity is expected to resume in 2027. Rio Tinto added that despite the slowdown, it still plans to invest more than $300 million in its Quebec lithium business in 2026 and does not expect significant changes to the overall project timeline.

[French Lithium Company Launches Geothermal Well Testing at the Schwabwiller Site in Alsace] The first geothermal exploration well drilled by the French lithium company at the Schwabwiller site in the Grand Ried department of Alsace, France, has begun well testing. This phase will last 3–5 weeks and is intended to verify the resource’s potential for geothermal heating and lithium production. Drilling at the Schwabwiller site began in November 2025, with a target depth of approximately 2,400 meters. The project is expected to drill a pair of wells, with a bottom-hole spacing of about 1,000 meters. The drilling campaign is expected to take a total of seven months. If results are positive, the French lithium company’s project is expected to provide geothermal heating for enterprises, farms, and local communities in northern Alsace. In addition, extracting lithium from geothermal brine will produce lithium with a lower environmental footprint, with carbon dioxide emissions reduced by about 70% compared with lithium currently on the market. Source: https://www.thinkgeoenergy.com/ [Li-FT Power Strategic Assessment of the Yellowknife Lithium Carbonate Conversion Plant Project] The global lithium chemicals supply chain is at a crossroads, with traditional production models facing unprecedented pressure from accelerating electrification demand. The market landscape is increasingly tilting toward integrated producers, which can capture value across the full chain—from raw ore mining to refining and producing battery-grade lithium chemicals. This shift reflects a broader strategic realignment across the industry: enterprises are enhancing operational resilience through vertical integration rather than relying on fragmented commodity supply chains. Li-FT Power’s recently announced Yellowknife lithium carbonate conversion plant project is a representative case of this strategic evolution. The proposed facility targets annual production of 30,000 mt LCE, positioning the company within North America’s emerging battery materials ecosystem. This capacity scale reflects an intentional mid-end positioning, balancing capital efficiency with meaningful market participation. Source: https://discoveryalert.com.au/ [Zimbabwe Clarifies Why It Hastily Banned Exports of Some of Its Most Critical Minerals] Recently, Zimbabwe’s Minister of Mines, Polit Kambamura, reiterated this rationale, stating that miners’ under-reporting of declared volumes constitutes a serious problem that cannot be ignored. He noted that the issue has become so widespread that the government was forced to bring forward the disciplinary timetable by one year. The government had originally planned to begin imposing an export ban on lithium concentrates next year, but due to rising production and newly issued export permits, it moved to launch the ban as quickly as possible. At a press conference after a Cabinet meeting in the country’s capital, Harare, Kambamura told reporters: “The ban will remain in effect until the conditions proposed by the government or new expectations are met.” Source: https://africa.businessinsider.com/ [Rock Tech and Siemens Plan to Build a Lithium Converter in Canada] The lithium converter that Rock Tech Lithium is developing in Guben, eastern Germany, is intended to serve as a blueprint for building a similar facility in Canada in cooperation with Siemens. The project will use Siemens’ digital twin technology to digitally replicate, optimize, and scale up the plant’s design and operating processes. The lithium converter that Rock Tech is currently building in Guben, Germany, is designed for an annual output of 24,000 mt of battery-grade lithium hydroxide. The company said this will become the largest facility of its kind in Europe. It is expected to start operations in 2027. The target capacity is equivalent to about 30 Gwh of battery capacity, sufficient to meet demand for about 500,000 EV units per year. Rock Tech also plans to build a similar facility in Red Rock, Ontario, Canada. Siemens AG’s technology will be deployed for the plant’s construction and operations. The two companies have signed a non-binding memorandum of understanding to establish a long-term, multi-phase strategic partnership focused on developing modern lithium converter capacity. Source: https://www.electrive.com/

February 25, 2026— AMG Critical Materials Inc. announced adjusted EBITDA of $235 million for the year 2025, representing a 40% increase from $168 million in 2024, primarily driven by strong performance in its antimony and engineering businesses. The company concluded the year with a robust balance sheet, highlighted by total liquidity of $484 million as of December 31, 2025. The refinery in Bitterfeld has continued to ramp up its production, producing in specification battery-grade lithium hydroxide and progressing with customer qualification as planned.AMG has dispatched kilogram samples to all cathode active materials (CAM) manufacturers with a footprint in Europe at the end of 2025, initiating the first stage of qualification. Based on customer feedback, it is anticipateed that it will move on to the next stage of qualification involving the shipment of tons in the first half of 2026, and expect to reach full production capacity in the second half of 2026. AMG Lithium is starting engineering on a 5,000-ton lithium carbonate to lithium hydroxide conversion plant at its Bitterfeld site. This plant will be designed to accept recycled lithium carbonate, and convert it to technical-grade hydroxide for use in Bitterfeld’s main upgrading facility. The plant’s capital cost is expected to be $50 million, and as announced in December 2025, 20% of the costs of the plant will be supported by a funding grant from the German Federal Ministry for Economic Affairs and Energy. The fourth quarter 2025 adjusted EBITDA decreased 87% compared to the fourth quarter of 2024, primarily due to the lower lithium concentrate volumes in the current quarter and higher mining costs related to poor quality ore. Full year 2025 adjusted EBITDA decreased from $24 million to $12 million, driven primarily by the 16% decrease in annual average lithium prices in 2025 compared to 2024, as well as the lower lithium concentrate sales volumes in the current period. During the fourth quarter of 2025, a total of 28,326 dry metric tons (“dmt”) of lithium concentrates were sold, 84% more than the 15,409 dmt in the third quarter of 2025, but 15% less than the 33,492 dmt in the fourth quarter of 2024. During the quarter, poor quality ore caused recoveries to drop, reducing production volumes. During 2025, a total of 69,180 dmt of lithium concentrates were sold, 22% less than the 88,966 dmt in 2024, due primarily to the failure of one piece of equipment in the second quarter of 2025 associated with our expansion project. The average realized sales price was $689/dmt CIF China for the fourth quarter of 2025, and the average realized sales price for the year was $632/dmt CIF China. The average cost per ton for the current quarter was $489/dmt CIF China. The average cost per ton increased from $290/dmt in the fourth quarter of 2024 due to the lower volumes and higher cost of mining activities in the current quarter. The average cost per ton for full year 2025 was $488/dmt CIF China compared to $458/dmt CIF China for 2024.

Italian electrochemistry and sustainable technology company Industrie De Nora S.p.A., through its subsidiary De Nora Permelec Ltd., has signed a binding Memorandum of Understanding with U.S. clean-energy materials company Tuleva Inc. to supply a high-capacity electrolysis system for Tuleva’s planned lithium hydroxide monohydrate refining project in the United States. Under the agreement, De Nora will deliver two ion-exchange membrane bipolar electrolysis systems (CECHLO 2C 843L), supporting an annual production capacity of approximately 11,000 tonnes of battery-grade lithium hydroxide monohydrate. The system contract is valued at over €10 million, and delivery is expected to be completed within 15 months after the final agreement is executed.

[Elevra and Mangrove Lithium Sign Non-Binding MOU for Spodumene Concentrates Offtake] North American lithium producer Elevra Lithium Limited ("Elevra") is pleased to announce the signing of a non-binding memorandum of understanding to supply spodumene concentrates produced by NAL to Mangrove Lithium ("Mangrove"). Elevra and Mangrove may enter into a binding definitive agreement in the future, subject to Mangrove reaching a final investment decision on the construction of its lithium conversion facility by June 2027 and the parties agreeing on the final terms of the agreement. Under the terms of the non-binding MOU, Elevra and Mangrove intend to negotiate a definitive agreement whereby Elevra would supply Mangrove with up to 144,000 mt of spodumene concentrates annually at market-related prices, with floor and ceiling prices, ensuring NAL generates positive cash flow at any stage of the pricing cycle. The proposed supply has an initial term of five years, commencing in 2028, and is expected to ramp up to the full annual volume of 144,000 mt by 2030, representing approximately 46% of projected sales. Mangrove plans to process the spodumene concentrates into battery-grade lithium hydroxide in Eastern Canada to support the establishment of a resilient domestic battery supply chain in Canada. Mangrove's designed annual capacity is 20,000 mt of battery-grade lithium, equivalent to the demand for 500,000 EVs. Source: https://news.smm.cn/ [Albemarle Announces Idling of Kemerton Lithium Hydroxide Processing Plant on February 11 Local Time] Albemarle decided to immediately idle and place into a state of care and maintenance the operational Train 1 production line at its Kemerton plant in Western Australia. This represents a further contraction following the idling of Train 2 in 2024 and the halting of the Train 3 and 4 expansion projects. Although lithium prices have recovered recently, the levels are not enough to support the cost pressures associated with hard-rock lithium conversion operations in the West. This move aims to improve financial flexibility and preserve future options. It is expected to have an accretive effect on adjusted EBITDA starting from Q2 2026, without affecting the sales target for the year, as customer demand will be met through other channels. Albemarle emphasized that its upstream lithium mine interests and exploration rights in Australia, such as Greenbushes and Wodgina, remain unaffected and are still a strategic core. Source: https://www.albemarle.com [Ultra-Thin, Compact Lithium-Ion Rechargeable Battery "EnerCera" Supports Tohoku University's Tsunami Balloon Project Demonstration Experiment] NGK Insulators, Ltd. (hereinafter "NGK") announced that it supported the demonstration experiment for Tohoku University's tsunami balloon project by manufacturing and supplying its ultra-thin, compact lithium-ion rechargeable battery, EnerCera®. The project aims to establish a new disaster prevention system that automatically deploys balloon-type evacuation markers during tsunamis, visually indicating the locations of tsunami evacuation facilities, such as evacuation towers and evacuation buildings, from the air. EnerCera powers the light sources installed in the balloons, making the evacuation sites clearly visible at night or under poor visibility conditions. In the demonstration experiment, EnerCera was used as the power source for the balloon-type evacuation marker lighting unit, which activated immediately after a tsunami. The experiment verified whether sufficient brightness was achieved when the balloons were deployed and whether the system met practical usage requirements. EnerCera combines a thin and lightweight design with high output and excellent environmental resistance, enabling stable operation in outdoor environments. By enabling wireless lighting control, the system is expected to enhance the visibility of tsunami evacuation facilities at night and help prevent evacuation delays. The Tsunami Balloon Project is an initiative led by a technical team from Tohoku University, aiming to develop a system that automatically releases balloons into the air upon receiving disaster information, such as tsunami warnings and emergency earthquake alerts, issued via the Quasi-Zenith Satellite System "Michibiki". In the demonstration experiment, a series of operational tests were conducted: upon receiving a tsunami warning (test signal), gas was rapidly injected into the balloon, inflating it to a diameter of approximately 2 meters and raising it to a height of about 40 meters within approximately 2 to 3 minutes. The balloon is marked with a person pictogram, allowing people to identify the evacuation facility simply by looking up at the sky. To improve nighttime visibility, EnerCera was integrated as the light source. Source: https://www.mynewsdesk.com/ ["Sacrifice Zone" or a Clean Energy Future? EU Court Considers Portuguese Lithium Mine Project] The risks in this case escalated further after EU officials refused in November to revoke the "strategic" status of the Barroso mine. A long-standing controversy over lithium mining in northern Portugal has reached the European Union's highest court. Environmental and community organizations have filed a lawsuit with the European Court of Justice against the European Commission's decision to grant the Barroso lithium project "strategic" status. The residents' association "United Defense Association of the Barroso Valley" and the environmental law organization ClientEarth raised objections on Thursday, February 5, arguing that the Commission failed to reassess the project after new evidence emerged regarding environmental, social, and safety risks. The core dispute in this case revolves around the EU's Critical Raw Materials Act of 2024. Projects designated as "strategic" gain fast-track access to permitting processes, financing channels, and the supply of raw materials for green products such as EVs and batteries. Source: https://www.euronews.com/ [How Argentina's Lithium and Uranium Boom Could Undermine Its Energy Sovereignty] Argentina possesses abundant critical natural resources, the demand for which is increasingly growing as the global energy transition continues to accelerate. However, although Argentina's potential geopolitical advantages have opened new avenues for economic growth, as world superpowers fiercely compete for the country's lithium and uranium resources, this may also entail significant trade-offs in energy sovereignty. The Argentine economy has finally seen a rebound after decades of painful recession. This shift is largely attributed to the radical austerity policies implemented by the right-wing President Javier Milei, elected in 2023. While Milei's aggressive financial reforms have had some positive effects on the economy, his approach has been highly controversial both domestically and internationally. Part of Milei's strategy involves forming a close alliance with the Trump administration. As part of this shift, he has shown a new willingness to cooperate with the US and other international partners in new nuclear energy plans. Milei declared his country an "unconditional ally of the US," with Argentina becoming the first partner country to sign the Trump administration's "Foundational Infrastructure for Responsible Use of Small Modular Reactor Technologies" initiative. Source: https://oilprice.com/

North American lithium producer Elevra Lithium announced that it has signed a non-binding Memorandum of Understanding (MoU) with Mangrove Lithium for the offtake of spodumene concentrate. Under the proposed agreement, Elevra could begin supplying spodumene concentrate to Mangrove from 2028, with an initial term of five years and annual volumes ramping up to 144,000 tonnes by 2030. Pricing would be linked to the market and subject to floor and ceiling mechanisms. Mangrove plans to process the spodumene concentrate into battery-grade lithium hydroxide in Eastern Canada to support the development of a domestic battery supply chain, with a planned capacity of 20,000 tonnes per year of battery-grade lithium, equivalent to the demand for around 500,000 electric vehicles.

[Xiaomi Auto Unveils Patent Related to Solid-State Batteries] According to Tianyancha APP, Xiaomi Auto Technology Co., Ltd. recently had its patent titled "Solid-State Battery Composite Electrode, Preparation Method, and Solid-State Battery Including the Composite Electrode" published. The patent abstract on Tianyancha indicates that the disclosed solid-state battery composite electrode effectively shortens the transmission path of metal ions within thick electrodes, accelerates the transmission rate of metal ions between electrodes, and exhibits high electrode loading and C-rate performance. (Kechuangban Daily) [CICC: Domestic New Energy Vehicle Sales to Maintain Strong Growth in H2 2025] CICC pointed out that the Chinese new energy vehicle market has shown robust performance since 2025, with wholesale sales of new energy vehicles increasing by 46% YoY from January to April 2025. Looking ahead, CICC is optimistic that domestic new energy vehicle sales will maintain strong growth in H2 2025, driven by the resonance of domestic demand and exports. [Mercedes-Benz and Beijing Benz Recall Certain Imported and Domestically Produced Vehicles] Recently, Mercedes-Benz (China) Automobile Sales Co., Ltd. and Beijing Benz Automotive Co., Ltd. have filed recall plans with the State Administration for Market Regulation in accordance with the requirements of the "Regulations on the Recall of Defective Automobile Products" and the "Implementation Measures for the Regulations on the Recall of Defective Automobile Products." Recall No. S2025M0090V: Starting from June 13, 2025, certain domestically produced C-Class and GLC SUV vehicles manufactured between April 25, 2023, and August 17, 2023, will be recalled, totaling 252 units. Recall No. S2025M0094V: Starting from June 13, 2025, certain imported S-Class and EQE vehicles manufactured between February 8, 2023, and October 10, 2023, will be recalled, totaling 257 units. Some vehicles within the scope of this recall used incorrect fuse boxes during previous recall repairs, which may lead to malfunctions in associated systems, resulting in potential loss of power, affecting restraint systems, instrument displays, etc. Additionally, the risk of fire cannot be ruled out, posing safety hazards. Mercedes-Benz (China) Automobile Sales Co., Ltd. and Beijing Benz Automotive Co., Ltd. will, through authorized Mercedes-Benz dealers, conduct free inspections of the affected fuse boxes for vehicles within the recall scope and replace them if the part numbers are incorrect to eliminate safety hazards. (Finance News) [Eight Departments Seek Public Comments on the "Guidelines for the Outbound Transfer of Automobile Data Security (2025 Edition)"] Eight departments, including the Ministry of Industry and Information Technology, are seeking public comments on the "Guidelines for the Outbound Transfer of Automobile Data Security (2025 Edition)." Automobile data processors providing automobile data overseas shall declare a data outbound security assessment if any of the following circumstances apply: (1) providing important data overseas; (2) cumulatively providing personal information (excluding sensitive personal information) of over 1 million individuals overseas since January 1 of the current year; (3) cumulatively providing sensitive personal information of over 10,000 individuals overseas since January 1 of the current year; (4) operators of critical information infrastructure providing personal information overseas; (5) other circumstances specified by relevant state regulations that require a declaration of data outbound security assessment. (Cailian Press) [GAC Group Promises: Rebate Payments to Dealers Will Be Completed Within Two Months Starting Today] GAC Group issued a commitment announcement: As a crucial part of the automotive industry chain, the stable development of dealers is a key factor in ensuring user service and experience. GAC Group actively responded to the initiative of the China Automobile Dealers Association to promote the healthy development of the automotive industry. Alongside its five major vehicle brands—Hyptec, Trumpchi, Aion, Honda, and Toyota—GAC Group promises that starting today, it will ensure the completion of rebate payments to dealers within two months to drive the high-quality development of the automotive industry. (Cailian Press) [MIIT: National Lithium Battery Production Exceeded 473GWh in January-April, Up 68% YoY] The Ministry of Industry and Information Technology (MIIT) released data indicating that from January to April 2025, China's lithium-ion battery industry continued its growth momentum. According to information from enterprises under the lithium battery industry's standard announcement and calculations by industry associations, the total national lithium battery production from January to April exceeded 473GWh, up 68% YoY. In the battery segment, the production of energy storage lithium batteries exceeded 110GWh, and the battery installations for new energy vehicles were approximately 184GWh. The total export value of lithium batteries nationwide from January to April reached 155.4 billion yuan, up 25% YoY. In the first-stage materials segment, the production of cathode materials, anode materials, separators, and electrolytes from January to April was approximately 1.15 million mt, 760,000 mt, 8 billion m², and 470,000 mt, respectively, all showing YoY increases of over 40%. In the second-stage materials segment, the production of battery-grade lithium carbonate was 270,000 mt, up 60% YoY, while the production of battery-grade lithium hydroxide was 90,000 mt, down 14% YoY. The average prices of battery-grade lithium carbonate and lithium hydroxide (micro powder grade) from January to April were 74,000 yuan/mt and 76,000 yuan/mt, respectively. 》Click for details Related Reading: [SMM Analysis] Breakthrough Achieved in Portugal's Lithium Mine Project; Development of Europe's Largest Spodumene Deposit Accelerates Weekly Summary of the LFP Market in June [SMM Lithium Battery Market Analysis] [SMM Analysis] Behind the 60-Day Payment Commitment: Suppliers' Wry Smiles and Anticipations Cobalt Product Quotes "Plummeting"; Co3O4 Falls by 7,650 Yuan in a Single Week; Will It Stop Next Week? [Weekly Observation] [SMM Analysis] Rio Tinto Partners with Codelco to Enter the Lithium Triangle; $900 Million to Develop World-Class Salt Lake Project [SMM Analysis] Separator Prices Remain Stable [SMM Analysis] Raw Material Drag Causes Price Decline; Policy Window Period May Lead to Bottoming Out and Rebound Battery and Solid-State Battery Sectors Strengthen Again; Multiple Automakers Announce Latest Progress; Lopal Shares Surge with Nearly 6 Limit-Up Moves [Hot Stock] [SMM Analysis] Cathode Material Production Increased MoM in May; Weak Growth in Downstream End-Use Demand [SMM Analysis] Anode Material Production Increased in May Due to Rising Demand [SMM Analysis] Co3O4 Production Increased MoM in May; Industry Players Remain Cautious Cobalt Product Quotes Collectively "Fall"; Cobalt Chloride Smelters' Quotes Remain Firm; Will They Stay High in the Future? [Weekly Observations] [SMM Analysis] Impact of US Tariffs on China on the Export Methods and Prices of Chinese ESS Battery Cells to the US - An Exploration of Three Methods: "Direct Export from China, Re-export via Malaysia, and US Domestic Production" (Part I) [SMM Analysis] Impact of US Tariffs on China on the Export Methods and Prices of Chinese ESS Battery Cells to the US - An Exploration of Three Methods: "Direct Export from China, Re-export via Malaysia, and US Domestic Production" (Part II) [SMM Analysis] Impact of US Tariffs on China on the Export Methods and Prices of Chinese ESS Battery Cells to the US - An Exploration of Three Methods: "Direct Export from China, Re-export via Malaysia, and US Domestic Production" (Part III) [SMM Analysis] New Breakthrough in Lithium Battery Technology: Can a Single Injection Extend Battery Life?

On June 6, China Energy Engineering Group Co., Ltd. organized and held the acceptance and review meeting for the major science and technology project "Research on Key Technologies and Core Equipment for Hydrogen Energy" of China Energy Engineering Group. The project focused on the entire industry chain of hydrogen energy, covering "production, storage, transportation, refueling, and utilization," and conducted research on key technologies and core equipment. The demonstration applications of the project's achievements have reached internationally leading levels, guiding the healthy and smooth development of China's hydrogen energy industry. The review experts came from well-known domestic scientific research institutions and related units of top-tier enterprises in the hydrogen energy industry. The meeting was chaired by Pei Aiguo, General Manager of the Science, Information, and Equipment Department of China Energy Engineering Group Co., Ltd. Li Jingguang, Secretary of the Party Committee and Chairman of China Energy Engineering Hydrogen Energy Co., Ltd., the leading unit of the project, attended the meeting. The project focused on core technologies in the hydrogen energy industry chain, including electrolytic hydrogen production, hydrogen purification, hydrogen liquefaction, green hydrogen-based ammonia synthesis, hydrogen refueling stations, and business models. It proposed systematic solutions and conducted demonstration applications for key scenarios such as electrolytic water-splitting equipment for fluctuating renewable energy, battery-grade lithium hydroxide coupling control, green hydrogen-based ammonia synthesis, and hydrogen refueling stations. It supported the construction of the world's largest Songyuan Green Hydrogen, Ammonia, and Methanol Project, created a model for green hydrogen, ammonia, and methanol energy construction, set a benchmark for the hydrogen energy industry, and led the development of the hydrogen energy industry. Technological breakthroughs were achieved in multiple aspects: Electrolytic hydrogen production: A 1000Nm³/h alkaline electrolyzer was independently developed, and an automated production line for 1000Nm³/h alkaline electrolyzers was established. The resulting equipment has been applied in the Zhongneng Green Electricity Zhangye Hydrogen Energy Project and the Songyuan Green Hydrogen, Ammonia, and Methanol Integrated Demonstration Project, gaining widespread market recognition. Supply contracts worth tens of millions of yuan for electrolyzers have been signed, achieving the goal of seamless transition from scientific and technological R&D to achievement transformation. By-product hydrogen purification: A 1400Nm³/h PSA industrial by-product hydrogen purification process technology was developed. This technology has been applied in the Jiangmen City 81,000 mt/year caustic soda relocation project, achieving a hydrogen purity of 99.999%. It has opened up a route for industrial by-product hydrogen purification, providing technical support for the design, investment, construction, and operation of by-product hydrogen projects of China Energy Engineering Group. Hydrogen liquefaction: A 1t/d hydrogen liquefaction process engineering plan was formulated, with the para-hydrogen molar content of liquid hydrogen products exceeding 98%, comparable to the energy consumption levels and para-hydrogen content of mainstream international products. Flexible ammonia synthesis: A "process-equipment-intelligent control" trinity solution for hydrogen purification and green ammonia synthesis was constructed, significantly reducing industrial carbon emissions. A 100,000 mt/year renewable energy electrolytic hydrogen-based ammonia synthesis technology was developed and applied in the China Energy Engineering Shule County 1 million mt hydrogen-based chemical base project. Integrated hydrogen production and refueling stations: A design plan for 1000kg/d, 70MPa-class integrated hydrogen production and refueling stations was formulated. Simulation software for hydrogen refueling station operation and optimization scheduling software for integrated new energy hydrogen production and refueling stations were developed. Relevant achievements have been applied in the Jingneng Chagannur "Wind, Solar, Thermal, Storage, and Hydrogen" Integrated Demonstration Project. Additionally, the project systematically studied the business models and investment opportunities across the entire industry chain of hydrogen energy production, storage, transportation, and utilization. It proposed a new market development strategy ("3316N") and a business development strategy of "seizing resources to reduce costs and increase efficiency in upstream hydrogen production, deeply involving in and iterating technologies in midstream storage and transportation, and comprehensively planning layouts to expand the market in downstream applications." This has formed a hydrogen energy business model across the entire industry chain with CEEC's characteristics. The CEEC Songyuan Hydrogen Energy Industrial Park (Green Hydrogen, Ammonia, and Alcohol Integration) project was selected as a demonstration project for green and low-carbon advanced technologies by the National Development and Reform Commission (NDRC) in 2024. One monograph titled "Research on the Development Status and Pathways of Renewable Energy-Based Hydrogen Production" was published. At the acceptance and evaluation meeting, the expert panel highly praised the work completed, unanimously agreeing that the project had fulfilled the contents specified in the task book and that the assessment indicators met the requirements of the task book. The demonstration application of the project's achievements had reached an internationally leading level. Meanwhile, it was believed that the project had strengthened the technological iteration and updating in the hydrogen energy field, consolidated the industry's leading position, and provided strong support for building a demonstration benchmark across the entire industry chain and for the development of CEEC's hydrogen energy industry. Liu Dairong, Deputy General Manager of CEEC Hydrogen Energy Co., Ltd., the leading unit of the project, reported on the project's progress and related achievements on behalf of the project team. Over 20 members of the project team attended the meeting. Taking this acceptance and evaluation meeting as an opportunity, the hydrogen energy company will firmly grasp the window period for the development of the national hydrogen energy industry and promote industrial innovation through technological innovation. In response to the strategic deployments of the national "15th Five-Year Plan" for "building a new-type energy system" and "tackling key green and low-carbon technologies," the hydrogen energy company will fully align with the development needs of the hydrogen energy industry's leapfrog growth. It will focus on three main lines: "large-scale green hydrogen production, independent storage and transportation technologies, and diversified application scenarios," accelerating the race to occupy the commanding heights of global hydrogen energy technology.

►Former ST Pawa Helmsman Reappointed, Aims to Turn Losses Around by 2025 ►1.056 Billion Yuan: Hainan Mining's 20,000 mt Battery-Grade Lithium Hydroxide Project Commences Production ►Annual Processing Capacity of 100,000 mt: Lianyungang, Jiangsu Lithium Battery Vein Industrial Park Project Signs Contracts ►3.2 Billion Yuan, 300,000 mt: Besky Battery Recycling Base Officially Launched in Huaian, Jiangsu ►Approximately 1.3231 Million mt: CATL Issues Major LFP Order ►5 Billion Yuan: CORNEX New Energy Signs Five-Year Procurement Agreement

[CPCA Secretary General Cui Dongshu: China's Auto Exports Reach 2.16 Million Units from January to April, with a YoY Growth Rate of 15%] CPCA Secretary General Cui Dongshu stated in an article that from January to April 2025, China's auto exports reached 2.16 million units, up 15% YoY compared to the same period in 2024. In April, China's auto exports reached 620,000 units, up 12% YoY and 36% MoM, showing a generally strong trend in both YoY and MoM growth. The main drivers this year remain the improvement in the competitiveness of Chinese products and the slight increase in the markets of Global South countries. However, the cycle in which international brands in the Russian market under the Russia-Ukraine crisis were comprehensively replaced by Chinese vehicles may come to an end, resulting in a significant reduction. (Finance Link) [Rio Tinto Plans to Invest Approximately $425 Million in the Development of the Salares Altoandinos Lithium Project in Chile] On May 22, Rio Tinto announced that it had been confirmed as the preferred partner by Chile's state-owned mining company (ENAMI) for the Salares Altoandinos lithium project on the salt flats in northern Chile. According to the proposed terms, Rio Tinto will acquire an initial 51% stake in the project, with ENAMI holding the remaining shares. Both parties still need to sign a binding agreement, obtain all regulatory approvals, and meet other customary closing conditions. Rio Tinto stated that it will advance pre-feasibility and feasibility studies to ultimately make an investment decision. Rio Tinto will provide approximately $425 million in cash and non-cash contributions, including its direct lithium extraction (DLE) technology. The cash contributions will be disbursed in phases to fund pre-feasibility and further studies. (Finance Link) [China's First Large-Scale Lithium-Sodium Hybrid Energy Storage Station with 98% Green Electricity Put into Operation] China's first large-scale lithium-sodium hybrid energy storage station, the Baochi Energy Storage Station of China Southern Power Grid, was put into operation in Yunnan today. Covering an area equivalent to five football fields, the Baochi Energy Storage Station has an installed capacity of 400 megawatt hours (MWh) and can regulate 580 million kWh of electricity annually, equivalent to the annual electricity consumption of 270,000 households, with green electricity accounting for up to 98%. (CCTV News) [Two Matters under the EU Battery Regulation Postponed, Providing Buffer for Chinese Lithium Battery Companies' Exports to Europe] Due to adjustments in the global raw material supply chain and insufficient third-party investigation agencies, the EU's planned implementation of due diligence on battery supply chains, originally scheduled for August this year, is proposed to be postponed by two years. The original plan for companies to submit carbon footprint reports, scheduled for February this year, has also been postponed due to the lack of detailed rules, providing Chinese lithium battery companies with a buffer period for their exports to Europe. The postponement of these two matters is good news for China's lithium battery exports to the EU. The EU is China's largest export market for lithium batteries. According to data from China's General Administration of Customs, in the first four months of 2025, five EU countries—Germany, the Netherlands, France, Spain, and Hungary—accounted for nearly 30% of China's lithium battery export value. (Caixin) [Hainan Mining: 20,000 mt Battery-Grade Lithium Hydroxide Project Achieves Full Process Integration with Qualified Products Offline] Hainan Mining (601969.SH) announced that its 20,000 mt battery-grade lithium hydroxide project has achieved full process integration, with the first batch of lithium hydroxide products passing internal laboratory sampling inspections, confirming that product parameters meet design standards. This milestone lays the foundation for subsequent continuous mass production, marking a phased achievement in the company's industrial transformation and upgrading strategy. However, lithium resource price fluctuations may impact the project's economics, and uncertainties remain regarding the timeline for stable production, full production capacity attainment, and customer certification of the products. The company will promptly fulfill its information disclosure obligations. (Cailian Press) [Haisco Pharmaceutical: Solid-State Battery Adhesive Business Yet to Generate Orders] Haisco Pharmaceutical (300584.SZ) issued an abnormal stock trading volatility announcement, noting the recent high market attention on solid-state battery concepts. The company's involvement in the solid-state battery sector primarily revolves around its subsidiary Anqing Huichen's joint venture with Saike Power and others to establish Sichuan Luochen, which was incorporated on February 11, 2025, focusing on the development, optimization, and industrialization of adhesive materials for new energy batteries, including solid-state batteries. As of now, Sichuan Luochen is conducting small-scale process development for related adhesive products but has not yet delivered samples to customers or secured orders, with no significant impact expected on the company's annual profits. [Farasis Energy: Second-Generation Semi-Solid-State Battery Expected to Enter Mass Production in H2, Targeting High-Value Applications Like Low-Altitude Economy and Humanoid Robots] Farasis Energy stated on an interactive platform that its first-generation semi-solid-state battery entered mass production and vehicle installation in 2022. The second-generation semi-solid-state battery is expected to achieve mass production in H2, initially targeting high-value applications such as the low-altitude economy and humanoid robots, potentially boosting solid-state battery product revenue. In terms of customer collaboration, the company's solid-state battery products have gained recognition from leading clients across various sectors, including GAC, Dongfeng, Sany, FAW Jiefang, a top US eVTOL customer, a leading domestic flying car manufacturer, Shanghai Shidai, and Geely's Volocopter. (Cailian Press) Related Reading: April Battery Materials Import and Export Data Released: Spodumene and Lithium Carbonate Imports Rise, Latter Sees Surge in Exports! [SMM Special] Cobalt Product Quotes Decline Across the Board: Refined Cobalt Drops by 6,200 yuan, Smelters' Willingness to Sell Increases [Weekly Observation] Spot Price of Refined Cobalt Falls [SMM Refined Cobalt Market Weekly Review] [SMM Weekly Review] Lithium Carbonate Prices Continue to Slide, Short-Term Market Remains Under Pressure [SMM Analysis] Can Iron Phosphate Doped with Titanium Become the Perfect Upgrade for High-End Applications? [SMM Analysis] China's lithium hydroxide exports reached 4,222 mt in April, basically flat MoM [SMM Analysis] Cobalt intermediate product imports increased slightly in April [SMM Analysis] Both China's unwrought cobalt exports and imports surged in April 2025 [SMM Analysis] China's domestic spodumene imports totaled 623,000 mt in April, up 16.5% MoM [SMM Analysis] Both artificial graphite imports and exports increased MoM in April [SMM Data] LiPF6 import and export data for April 2025 [SMM Analysis] Analysis of ternary cathode precursor exports in April [SMM Analysis] Ternary cathode import and export volumes for April released, with imports up 37% MoM and exports up 13% MoM [SMM Announcement] Adjustments to weekly lithium carbonate data points before and after the Labour Day holiday Driven by multiple positive factors! The auto parts sector surged with over 12 stocks hitting daily limits! [Hot Stocks] Refined cobalt quotes slightly recovered, while Co3O4 prices continued to decline. The market awaits the aftermath of the DRC's June ban. [Weekly Observations] [SMM Industry Insights] Global cobalt industry chain changes and Chinese market outlook post-DRC cobalt export ban - Key points from the special speech by Wang Cong, General Manager of SMM Industry Research Tariff suspension spurs lithium carbonate futures to rise over 3%. Can the expectation of a rush in exports help lithium carbonate "stand up"? [SMM Flash News] Passenger vehicle retail sales growth in April hit a decade-high, with auto production and sales exceeding 10 million units in the first four months! [SMM Special Report]