Major industry players scramble to enhance self-sufficiency rate of lithium resources, despite lithium price downturn

Although lithium prices are on a downward path, there are still many companies that continue to pursue increasing the self-sufficiency rate of lithium resources. For example, Ganfeng Lithium, one of China’s top two lithium producers, said that it has obtained high-quality and stable lithium resources. The long-term and stable development of the company's business is crucial. The company adheres to the purpose of globalizing resources and will continue to expand its existing lithium resource portfolio through further exploration and gradually focus on the extraction and development of low-cost resources such as brine to actively improve its self-sufficiency level. Some organizations commented that overseas geopolitical factors further highlight the strategic significance of independent control of lithium resources. The decline in lithium concentrate prices lags behind that of lithium salts, which benefits companies with high lithium resource self-sufficiency rates.