Glencore Q1: African copper cathode surges 68%, cobalt production falls 39% y-o-y

On May 6, Hubei Huasheng Xianghe New Energy Materials Co., Ltd. underwent industrial and commercial changes, with BYD becoming a new shareholder, holding a 15% stake. At the same time, the company's registered capital increased from 600 million yuan to approximately 710 million yuan. Huasheng Xianghe is an important production base established by HSC Lithium in Central China, focusing on the research, development, and production of lithium battery electrolyte additives. Its core project is a 60,000-ton VC project (Phase I: 30,000 tons) with a total investment of approximately 950 million yuan. The project covers an area of approximately 230 mu and is currently progressing steadily.

On May 7, Zhejiang Huayou Cobalt Co., Ltd. issued an announcement stating that it has signed a "Scheme Implementation Deed" and related agreement appendices with Atlantic Lithium Limited, planning to acquire 100% of its equity through a scheme of arrangement. Upon completion of the transaction, Atlantic Lithium will be consolidated into Huayou Cobalt's financial statements, and Huayou Cobalt will obtain 100% of its equity. Atlantic Lithium's main business focuses on lithium exploration and development in the African market, with its core asset being the Ewoyaa Lithium Project in Ghana. Huayou Cobalt stated that this is an important step in deepening its overseas resource layout, which will further enhance its lithium resource self-sufficiency rate and supply chain security resilience.