Core Viewpoint - Ganfeng Lithium is integrating Millennial Lithium Corp with its subsidiary Ganfeng International and Lithium Argentina AG to develop lithium salt lake assets in Argentina, aiming to enhance its lithium production capabilities and overall competitiveness in the market [1][2]. Group 1: Company Developments - Ganfeng International and LAR will hold 67% and 33% of Millennial respectively, and Ganfeng Lithium will provide up to $130 million in financial support for the PPGS project development [1]. - The PPGS lithium salt lake project is planned to utilize advanced direct lithium extraction technology, with a target annual production of 150,000 tons of lithium carbonate equivalent (LCE) [2]. - Ganfeng Lithium has acquired 100% ownership of Mali Lithium, enhancing its resource base with the Goulamina lithium spodumene project expected to commence production by the end of 2024 [4]. Group 2: Financial Performance - In the first half of the year, Ganfeng Lithium reported a net loss of between 300 million to 550 million yuan, although this represents an improvement compared to the previous year [3]. - The decline in lithium and battery product prices has impacted overall financial performance, despite growth in battery production capacity and sales [3]. - The company anticipates a slowdown in capital expenditure due to the current low lithium price environment, while maintaining a positive outlook on the long-term growth of the lithium industry [4].
赣锋锂业持续布局海外资源 拟成立合资公司开发阿根廷锂盐湖