[SMM News Flash] PLS Group Turns Bullish on Lithium Cycle, Nears FID on Pilgangoora Capacity Doubling

Zimbabwe's lithium concentrate export ban takes effect 1 January 2027, and only one of the country's sulphate plants is complete Prospect Lithium Zimbabwe's $400 million facility at Arcadia. Sinomine's $500 million facility at Bikita and Yahua's plant at Kamativi remain under construction, while a state-owned project at Sandawana is still at feasibility stage. Producers have requested a deadline extension to mid-2027; government has not confirmed either way. Zimbabwe and Zambia meet in Livingstone in November, six weeks before the deadline. SMM View: Whether the extension is granted is the question every producer in the country is now pricing and it's not one the public record will answer first. Reliable CIF pricing and construction-progress detail out of Bikita and Kamativi remain hard to come by outside direct market contact.

SMM August 24: Lithium Argentina AG (TSX/NYSE: LAR) and Ganfeng Lithium Group Co., Ltd. have finalized agreements to consolidate their Pozuelos-Pastos Grandes ("PPG") projects in Salta Province, Argentina, into a single joint venture, alongside a $180 million strategic investment by Ganfeng into Lithium Argentina. The PPG JV combines Ganfeng's Pozuelos-Pastos Grandes project with Lithium Argentina's Pastos Grandes and Sal de la Puna projects, targeting 150,000 tpa of lithium carbonate equivalent capacity across three phases. Ganfeng holds 67% and will operate the JV; Lithium Argentina holds 33%. Combined historical investment stands at $1.8 billion, with completion expected in September 2026 under new Dutch holding entity Millennial Lithium B.V. Separately, Ganfeng will subscribe to a $180 million unsecured convertible note, carrying a 4.0% coupon, six-year term, and $12.50 conversion price a roughly 96% premium to Lithium Argentina's five-day VWAP through August 21. Proceeds will retire the company's $259 million convertible debt due January 2027. Upon full conversion, Ganfeng's stake in Lithium Argentina would rise from 9.6% to approximately 16.1%. The deal deepens a partnership already anchoring Cauchari-Olaroz, Argentina's largest lithium brine operation, where Lithium Argentina holds 44.8% and Ganfeng 46.7%. SMM View: The transaction extends Chinese capital's growing footprint in South American brine assets, echoing the consolidation already seen across African spodumene supply. It de-risks Lithium Argentina's near-term maturities while adding fresh LCE capacity to global project pipelines, with implications for offtake competition and CIF China pricing across both brine and hard-rock lithium chains.

【Tengyuan Cobalt's H1 Net Profit Rises 87.82%, Black Mass Feed Intake Up 94.22%】 Tengyuan Cobalt reported operating revenue of RMB 6.089 billion in the first half of 2026, up 72.36% year-on-year, while net profit attributable to shareholders rose 87.82% to RMB 881 million. During the period, black mass feed intake at its Ganzhou facility increased 94.22% year-on-year, with significant growth in recovered cobalt, nickel and lithium output. The company's annual black mass processing capacity has reached 50,000 tonnes, supporting its integrated recycling, purification and battery-materials value chain。