Jiangxi Ganfeng Lithium’s H1 Net Profit Up 12.18%; 30% Profit Rise Expected in Jan.-Sept.-Shanghai Metals Market

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Jiangxi Ganfeng Lithium’s H1 Net Profit Up 12.18%; 30% Profit Rise Expected in Jan.-Sept.

Company News 01:53:27PM Aug 19, 2014 Source:SMM

SHANGHAI, Aug. 19 (SMM) – China’s leading lithium producer Jiangxi Ganfeng Lithium Co. reported a 12.18% year-on-year growth in net profit in the first six months this year, according to its interim report filed to Shenzhen Stock Exchange.

Ganfeng Lithium made a net profit of 39.13 million yuan ($6.36 million) in the first half of this year.

The company was pushing ahead with its plans to advance into lithium battery markets. In addition, it acquired 80% interest in Argentina-based Mariana lithium brine project, and got hold of 51% stake in its JV with Canada’s International Lithium in Ireland. It plans to invest a maximum of 15 million yuan in mining operations at the lithium mine in Ireland’s Blackstair’s Mountain and Argentina’s Mariana project.

Ganfeng Lithium expects its net profit to rise 30% year-on-year in the first three quarters to 69.49 million yuan, given expanding capacity and rising sales.  

Jiangxi Ganfeng Lithium’s H1 Net Profit Up 12.18%; 30% Profit Rise Expected in Jan.-Sept.

Company News 01:53:27PM Aug 19, 2014 Source:SMM

SHANGHAI, Aug. 19 (SMM) – China’s leading lithium producer Jiangxi Ganfeng Lithium Co. reported a 12.18% year-on-year growth in net profit in the first six months this year, according to its interim report filed to Shenzhen Stock Exchange.

Ganfeng Lithium made a net profit of 39.13 million yuan ($6.36 million) in the first half of this year.

The company was pushing ahead with its plans to advance into lithium battery markets. In addition, it acquired 80% interest in Argentina-based Mariana lithium brine project, and got hold of 51% stake in its JV with Canada’s International Lithium in Ireland. It plans to invest a maximum of 15 million yuan in mining operations at the lithium mine in Ireland’s Blackstair’s Mountain and Argentina’s Mariana project.

Ganfeng Lithium expects its net profit to rise 30% year-on-year in the first three quarters to 69.49 million yuan, given expanding capacity and rising sales.