L&F Secures KRW 1.6 Trillion LFP Cathode Supply Deal with Samsung SDI

The expansion adds new mineral resources and replicates the existing complete beneficiation production line. Once completed, annual spodumene concentrates capacity will reach 4.4 million mt, while annual lithium hydroxide production will remain unchanged at 50,000 mt. The mine is held 50/50 by Chile's SQM and Australia's Wesfarmers, with operations managed by their joint venture Covalent Lithium. The expansion is also expected to extend the mine's operational life. Located 400 kilometers east of Perth, the mine commenced production in March 2024. This expansion will further consolidate its position as a core global lithium resources supplier.

Recently, Hunan Yuneng New Energy Battery Material Co., Ltd. issued an announcement stating that it plans to issue overseas-listed foreign shares (H-shares) and apply for listing on The Stock Exchange of Hong Kong Limited. As a globally leading supplier of cathode materials for lithium-ion batteries, Hunan Yuneng's core products are cathode materials such as lithium iron phosphate, widely used in the manufacturing of power batteries and energy storage batteries. It is deeply tied to leading enterprises such as CATL and BYD, serving as a core supplier in the energy storage battery material sector.