CATL's Yichun Project Halts Production, Sending Lithium Mining Stocks Soaring
1 week ago / Read about 0 minute
Author:小编   

Upon the opening of A-shares on August 11, lithium mining stocks collectively surged. By midday, Tianqi Lithium, Jiangte Motor, and Shengxin Lithium Energy had reached their daily limits, while Zhongkuang Resources, Ganfeng Lithium, and Yongshan Lithium recorded gains exceeding 9%. Other stocks, including Rongjie Shares, Qinghai Salt Lake Industries, Yahua Group, Tibet Mining, and Tianhua New Energy, followed suit. Concurrently, Hong Kong-listed lithium stocks witnessed a broad-based rally, with Ganfeng Lithium surging by more than 20% at one point and Tianqi Lithium increasing by over 18%. The primary catalyst for this surge in lithium mining stocks is the suspension of mining operations at CATL's Yichun Jianxiawo lithium mine on August 9, due to the expiration of its mining license, with no immediate plans for resumption of production. CATL has assured that it is expediting the renewal of the mining license in accordance with relevant regulations and aims to resume production as soon as possible upon approval. This development is expected to have minimal impact on the company's overall operations.