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.