【SMM New Energy News】China Power Capacity to Hit 5.4B kW by 2030 with Renewable Share Exceeding 50%

XTC New Energy Materials (688778.SH) announced that it plans to establish a wholly owned subsidiary in Hong Kong, XTC New Energy Materials (Hong Kong), and through it to form a joint-venture holding subsidiary in Malaysia with EMI, investing approximately $64.58 million (equivalent to about RMB450 million) to build a lithium-ion cathode material project with an annual capacity of 10,000 mt. The project will be funded by self-owned and self-raised funds, with the construction period scheduled from September 2026 to June 2027. This investment is aimed at improving the company’s production capacity layout outside China and meeting demand in markets outside China, and does not constitute a connected transaction or a major asset restructuring.

Zimbabwe's Finance Minister Ncube Mthuli stated unequivocally on June 24 that, despite a collective industry request for a postponement, the government will not extend the ban on lithium concentrates exports originally scheduled to take effect in January 2027. He noted that enterprises unable to build their own plants could be encouraged to sign processing trade agreements with supplied materials with companies possessing processing capacity. The minister's remarks came after most of the country's lithium producers requested more time last week to complete the construction of beneficiation plants.