TBEA Invests in 1GW Photovoltaic, 2GW Wind Power, and Energy Storage Projects in Zhundong with Total Investments of Over 10 Billion Yuan

According to an industry letter seen by Reuters, exporters have been unable to submit export declarations through the customs platform since July 1 because ARECOMS, the Democratic Republic of Congo's strategic minerals regulator, has not formally notified customs to continue processing export quotas. As a result, major producers including CMOC Group, Glencore, Eurasian Resources Group (ERG) and Huayou Cobalt have been unable to complete export procedures. Meanwhile, ARECOMS requires companies to utilize their first-half export quotas by July 5, after which any unused volumes will be withdrawn and reallocated. Industry sources estimate that around 60%–75% of companies are unlikely to meet the deadline due to administrative delays. If the issue is not resolved promptly, up to 20,000 tonnes of cobalt exports, worth approximately US$1.1 billion at current prices, could be affected. CMOC alone could lose almost all of its second-quarter export quota. SMM will continue to monitor developments.

Jiangsu Huachen announced that it has signed an equipment sales contract with Ningxia Tianpuxin Technology Co., Ltd. for energy storage PCS and step-up integrated units, with a total contract value of Yuan 221 million. The company said successful execution of the contract is expected to have a positive impact on its operating results this year and in the future.

Tinci Materials announced that its subsidiary Nantong Tinci has terminated its planned 243,000-tpy lithium battery and fluorochemical materials project. The company said the decision was driven by an oversupply in the electrolyte industry, intensified market competition, and changes in the fluorochemical market, which weakened the project's expected returns. Tinci has begun evaluating new product plans for its Nantong facility.