Ganfeng Lithium to Commence Operations at Argentina Plant This Year
Ganfeng Lithium, a leading lithium compound manufacturer in China, will put its Cauchari-Olaroz salt lake project in Argentina into operation during the second half of this year, Cailian Press learned on Tuesday from company insiders. The planned annual production capacity of the project will be 40,000 tons of battery-grade lithium carbonate. Meanwhile, the fourth phase of its Mahong factory in China’s Jiangxi province will be put into operation in July this year, meeting its remaining planned capacity of 10,000 tons of lithium hydroxide after completion.
Ganfeng Lithium is a global leader in the industry with production capacity of more than 40 kinds of lithium compounds and metallic lithium products across five categories. It started from the manufacturing of lithium compounds and metallic lithium, and has expanded to the industrial chain, forming a vertically integrated ecosystem. It has been developing lithium resources, involved in the deep processing of lithium brine and lithium smelting, and the manufacturing of lithium batteries, as well as the comprehensive recycling of used lithium batteries.
In recent years, Ganfeng Lithium has gained control of many lithium resources around the world through its continuous layout. In the first half of 2021, it carried out four large-scale acquisitions of lithium resources, and the total cost of related funds was as high as 4.407 billion yuan ($691 million).
Ganfeng Lithium has an annual output of 43,000 tons of lithium carbonate, of which 15,000 tons are used to produce lithium hydroxide. Its total production capacity of lithium hydroxide is 81,000 tons, which is limited by supporting products. At present, the effective production capacity is about 70,000 tons. After the fourth phase of Mahong Factory is put into production, the remaining lithium hydroxide production capacity will be released.
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In addition, Ganfeng Lithium announced on Monday evening that after preliminary accounting by the company, the net profit attributable to shareholders of its listed companies from January to February 2022 was about 1.4 billion yuan, a year-on-year increase of about 300%. The net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses is about 1.8 billion yuan, up about 1000% year-on-year.
Its performance has increased tenfold, benefiting from the rapid development of the new energy vehicle and storage industries. The demand for lithium has been rising, while the price of lithium salt products has also been rising continuously. In addition, sales volume has increased significantly.
