[SMM Analysis] Overseas Lithium News

【BYD of China Acquires Mining Rights for Lithium Mines in Brazil】

According to public records reviewed by Reuters, Chinese EV manufacturer BYD acquired mining rights for two plots of land in lithium-rich regions of Brazil in 2023, marking its entry into the mining sector in its largest market outside China. This acquisition represents BYD's most concrete step to date in mining strategic minerals in the Western Hemisphere. The documents show that this previously undisclosed acquisition of mining rights was completed at the end of 2023, with the buyer being BYD's subsidiary, Exploracao Mineral do Brasil, which was established in May of the same year.

Source: Compiled from company announcements

【Ganfeng Lithium Starts Lithium Production at Mariana Project in Argentina】

Ganfeng Lithium announced on Wednesday that its Mariana project in northern Argentina has commenced lithium production, one of several lithium projects the company is advancing in the South American country. Ganfeng Lithium, one of the world's largest lithium producers, primarily supplies lithium for rechargeable battery manufacturing.

The Mariana plant, located in Salta Province, represents a total investment of $790 million and has an annual capacity to extract 20,000 mt of lithium chloride from the Llullaillaco salt lake. Additionally, Ganfeng Lithium invested $190 million to build a solar park to meet the plant's energy needs.

In a statement, Wang Xiaoshen, President of Ganfeng Lithium Group, said that the company's other lithium projects in Argentina are also progressing steadily. Among them, the Pozuelos-Pastos Grandes project is expected to begin construction this year, while the Incahuasi-Arizaro project is in the exploration phase.

Furthermore, Ganfeng Lithium jointly owns the operational Cauchari-Olaroz project with Lithium Americas and is conducting feasibility studies for the Pastos Grandes project.

Source: Compiled from company announcements

【Kodal Minerals Produces First Spodumene Concentrates at Bougouni Project】

According to Reuters, Kodal Minerals, a mineral exploration and development company, announced that its Bougouni lithium project in southern Mali has produced its first spodumene concentrates. The concentrates, with a grade of 5.53% Li2O, were produced during the DMS plant commissioning phase, meeting expectations. The commissioning process included water testing and the introduction of pegmatite ore, with construction costs remaining within the $65 million budget, leaving only minor optimization work.

Open-pit mining activities at the Ngoualana deposit are progressing smoothly, with over 350,000 mt of ore stockpiled at an average grade of 1.17% Li2O. Mining and processing operations at Bougouni have commenced 24/7 continuous operations. The Malian Ministry of Mines has approved the transfer of the mining license, with a new mining decree awaiting presidential signature.

Kodal Minerals CEO stated that this production marks a significant milestone, with the commissioning and stress testing of the processing plant expected to be completed in the coming weeks. The company aims to achieve nameplate capacity and steady-state production, with the first shipment to Hainan, China, anticipated by the end of this quarter.

Source: Compiled from company announcements

【New Technology Promises to Significantly Extend Lithium-Ion Battery Life】

A research team from Fudan University has developed a new technology that significantly extends the lifespan of lithium-ion batteries, maintaining near ex-factory performance even after 12,000 charge-discharge cycles. This groundbreaking achievement was led by Peng Huisheng and Gao Yue, with the findings published in the prestigious international journal *Nature*.

The core of this technology is a new-type lithium-ion carrier molecule designed through a combination of artificial intelligence (AI) and organic electrochemistry. Researchers liken this molecule to a "drug" that can be "injected" into aging batteries to precisely replenish lost lithium ions, thereby restoring battery capacity. The molecule has a simple structure, with one end carrying lithium electrons and the other acting as a transport vehicle to deliver lithium electrons into aging batteries, eventually being expelled as gas.

Additionally, this technology breaks the traditional limitation that battery materials must contain lithium, paving the way for the use of more environmentally friendly, heavy-metal-free materials in battery manufacturing. Experimental results show that batteries using this technology experience only a 4% capacity decay rate after 12,000 charge-discharge cycles, compared to a 30% decay rate for current EV batteries under similar conditions after just 2.73 years of use.

Researchers estimate that this technology could extend the cycle life of typical lithium-ion batteries from the current 500-2,000 cycles to 12,000-60,000 cycles. The team has already partnered with leading domestic battery companies to apply this technology to practical lithium-ion battery devices.

Source: Compiled from public information

【Weardale Lithium Secures Planning Permission for the UK's Largest Lithium Extraction Facility】

Weardale Lithium has received unanimous approval from Durham County Council to build the UK's largest lithium extraction facility in Eastgate, County Durham. This decision marks a significant step for the UK in transitioning to domestic lithium production, reducing reliance on imported battery-grade lithium carbonate, a critical component for EV batteries and renewable energy storage.

The facility will be constructed on the site of a former cement plant that closed over 20 years ago, representing a major redevelopment project. By utilizing the brownfield site with existing infrastructure, the project aligns with sustainability goals while boosting the local economy.

Weardale Lithium's extraction facility will produce battery-grade lithium carbonate using geothermal brine from the North Pennine Orefield. The company plans to scale annual production to at least 10,000 mt, significantly strengthening the UK's lithium supply chain.

The facility will employ advanced direct lithium extraction (DLE) and carbonisation processes to produce high-purity lithium carbonate on-site. This continuous-flow demonstration plant will serve as a testbed for optimizing lithium extraction methods while providing various battery-grade samples for customer validation and sales agreements.

Weardale Lithium is committed to sustainable lithium production, leveraging DLE technology known for its low environmental impact, minimal water usage, and lower carbon emissions compared to traditional extraction methods. The company also pledges to use renewable energy wherever possible to further enhance sustainability. The project's approval represents a multi-million-pound investment in the regional economy. In its initial phase, it will create 20-50 jobs, with additional employment opportunities in local construction and supply chains. Once the facility reaches full commercial production, it is expected to create approximately 125 high-skilled jobs and contribute around £1 billion in total gross value added (GVA) to the North-East region.

Weardale Lithium CEO Stewart Dickson stated: "This planning permission is a significant milestone for Weardale Lithium and the UK's electrification goals. The project aligns with the UK government's critical minerals strategy and battery strategy, recognizing lithium as a key mineral for the energy transition and meeting the growing demand for EVs and battery energy storage systems."

Source: Compiled from company announcements

【Chinese Companies Expand Influence in Nigeria's Lithium Industry】

According to Mining.com, two Chinese companies—Canmax and Jiuling Lithium—have taken control of a Nigerian company named Ganfeng Mining as part of a major global lithium industry initiative. This acquisition, completed in mid-2024, aims to strengthen China's foothold in Nigeria's emerging lithium industry, which is becoming increasingly important for global EV battery production.

Chinese involvement in Nigeria's lithium industry aligns with the broader industry trend of securing lithium raw material supplies, especially amid expectations of surging demand. Despite lithium prices plummeting nearly 90% since 2022, Chinese companies have significantly increased investments in Africa. Canmax plans to develop two new lithium mine projects in northern Nigeria, investing over $200 million in collaboration with Tricrown Mining Ltd. Canmax, a globally renowned lithium producer, was founded by Pei Zhenhua, a key figure in the global EV market, and maintains close ties with leading EV battery manufacturer CATL.

Nigeria boasts abundant untapped mineral resources, including lithium, gold, and tin, but mining operations remain small-scale and primarily rely on artisanal methods. Through a groundbreaking agreement with Nigerian authorities, Ganfeng Mining secured lithium mining rights for the next decade, with licenses controlled by the Nasarawa State Government. A new processing plant is under construction in the state, with the first phase expected to be completed by mid-2025 and further expansion planned later that year.

These developments align with shifts in China's lithium export patterns. According to IndexBox data, China's lithium carbonate exports plummeted from $518.3 million in 2023 to $65.7 million in 2024, reflecting a strategic pivot toward domestic utilization and partnerships like those in Nigeria. Despite reduced exports, China continues to import significant quantities of lithium carbonate, with imports from major suppliers such as Chile and Argentina valued at $2.6 billion in 2024. While Canmax, Jiuling Lithium, and Nigerian authorities remain tight-lipped about Ganfeng Mining's production plans or output levels, these moves demonstrate a well-considered response to lithium market dynamics and set a precedent for future resource acquisition strategies.

Source: Compiled from media reports and public information