Jan 30, 2023 03:35 PM
BUSINESS
Lithium’s Historic Rally Fuels Record Profits for China’s Miners
The bumper profits come as Chinese prices for lithium carbonate peaked in November after jumping around 15 times from lows in 2020. Photo: Bloomberg
(Bloomberg) — China’s big lithium miners are set to reap record earnings after booming demand for the electric-vehicle (EV) battery material sent prices surging to an all-time high last year.
Tianqi Lithium Corp. forecasted preliminary net income for 2022 skyrocketed more than 10-fold, while rival Ganfeng Lithium Group Co. Ltd. is predicting a surge of as much as 321%.
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