The Ministry of Natural Resources and the China Geological Survey recently announced that China has achieved significant results in lithium ore exploration. The proportion of China's lithium ore reserves in the global total has increased from 6% to 16.5%, with its ranking rising from sixth to second. This change is expected to reshape the global landscape of lithium resources. So, how will this increase in reserves impact the domestic and international lithium battery markets, and what effect will it have on the prices of domestic lithium battery products?
Duan Zhiqiang, President of Wanchuang Investment Banking Research Institute, pointed out that reserves and extractable quantities are two different concepts. The construction cycle for lithium mine extraction plants typically takes 2 to 3 years, and in high-altitude areas, it may extend to 3 to 5 years. The overall exploration of mineral resources is divided into four stages: preliminary survey, general survey, detailed survey, and exploration. Most of the newly added mineral resources are still in the preliminary or general survey stages, and the final confirmation of economically extractable quantities usually requires reaching the exploration stage. Therefore, the overall conversion process will still take some time.
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