Although the first quarter results are "strong" in the second quarter or higher, the output of lithium carbonate in Tibet's mining industry is expected to continue to rise.

Benefiting from the substantial increase in profits from the lithium business, Tibet Mining is expected to make a higher net profit in the first quarter of 2022 than for the whole of last year. The reporter learned from industry insiders that the first quarter in Tibet is usually a traditional off-season, and sales are expected to rise gradually in the next few months. In addition, there will be room for further increase in Tibet's mining output and product grade this year.

According to the forecast of Tibet Mining's first quarterly report on March 26, the company expects revenue of 300 million to 450 million yuan in the first quarter, an increase of 120.4 percent to 230.6 percent over the same period last year, and a net profit of 200 million to 300 million yuan, an increase of 707.4 percent and 1111.1 percent over the same period last year. For the substantial increase in performance, the company explained in the first quarterly report that lithium concentrate sales are good, which is the main reason for the company's operating performance growth in the first quarter.

As for the sales forecast of lithium carbonate in the second quarter, the above-mentioned person told the Financial Associated Press that traditionally, due to the Spring Festival in the first quarter, the Tibetan New year, as well as heavy snow and mountains, the first quarter in Tibet is usually a traditional off-season, and sales are expected to rise gradually in the next few months.

Before the outstanding performance in the first quarter, Tibet's mining industry has turned losses into profits in 2021. KuaiBao, the company's 2021 results released on the same day, showed that the company achieved revenue of 640 million yuan, an increase of 68.18% over the same period last year, and a net profit of 140 million yuan, an increase of 388.89% over the same period last year.

A reporter from the Financial Associated Press noted that the output of lithium carbonate and chromite in Tibet Mining Industry in 2021 exceeded expectations. According to KuaiBao, Tibet Mining's 2021 performance, the company expects to receive 9016 tons of lithium concentrate in 2021, an increase of 96.00 percent over the same period last year. Chromite is expected to produce 140000 tons for the whole year, exceeding the expected annual production target of 7000 tons of lithium concentrate and 130000 tons of chromite.

It is understood that Tibet's mining industry has been tackling key technical problems since last year, and exceeding expectations is mainly due to the contribution of three-dimensional crystallization and dynamics to the promotion of halogen technology. Industry insiders say that after Tibet's mining industry popularizes three-dimensional crystallization and dynamic bittern technology on a large scale in 2022, it is expected that there will be further increase in output and product grade this year.

In terms of production capacity, Tibet Mining said at the investment exchange meeting in February this year that the company currently plans to reach 30,000 tons of lithium salt production capacity in 2025, and the second phase of the 10,000-ton lithium carbonate project is scheduled to be put into production in September 2023. In addition, the company has signed a 100-ton lithium hydroxide pilot contract with Jiuwu Hi-Tech. After the pilot test is successful, the construction of a 10,000-ton lithium hydroxide project will be considered. It is understood that Tibet Mining has the exclusive right to exploit Zabuye Salt Lake in Tibet, which is the third largest lithium mine salt lake in the world.