CATL(SZ:300750) 证券时报·2025-12-24 15:11Core Viewpoint - The article discusses the anticipated resumption of lithium mining operations at the Jiangxia Wokeng lithium mine in Yichun, which is expected to impact lithium carbonate futures prices significantly, amidst ongoing fluctuations in the market [3][10]. Group 1: Mining Operations and Market Impact - Yichun Times New Energy Mining Co., Ltd. is expected to resume operations at the Jiangxia Wokeng lithium mine around the Spring Festival [3]. - The Jiangxia Wokeng mine is the largest lithium mica mining area in Yichun, with a designed construction investment of 2.158 billion yuan and an estimated recoverable resource of 77.492 million tons [8]. - Prior to its suspension, the mine produced approximately 7,000 to 8,000 tons of lithium carbonate equivalent (LCE) monthly, accounting for about 10% of domestic demand [8]. Group 2: Lithium Carbonate Futures Prices - Following news of potential mining rights cancellations in Yichun, lithium carbonate futures prices surged, breaking through significant thresholds of 100,000, 110,000, and 120,000 yuan, with a peak of 127,800 yuan on December 24, marking a 5.89% increase [4]. - The latest data shows that the battery-grade lithium carbonate index price reached 101,284 yuan per ton, with a daily increase of 1,709 yuan, while industrial-grade lithium carbonate also saw a rise of 2,000 yuan [6]. Group 3: Regulatory Developments - The Jiangxi Provincial Department of Natural Resources has been actively managing the mining rights and has recently publicized the evaluation report for the Jiangxia Wokeng mine, indicating that mining rights fees will be assessed based on actual lithium resource usage [10]. - The futures market is expected to face significant adjustments if the resumption of mining operations is confirmed, especially given the seasonal demand decline in the lithium battery industry during spring [10].