中国锂供应-评估采矿许可证风险，供应过剩或缓解但难成根本性转变-China Metals & Mining_ China lithium supply - evaluating risks in mining licenses, potential easing of supply surplus but not game changer

21 July 2025 | 9:57PM HKT Our review of the licenses suggests that 1) the incompleteness rate of the mining licenses, related to the scope of the minerals permitted for mining/extraction and license expiration dates, could technically reach 45% of the total output, 2) mining licenses of 7% of the total output are subject to inclusion of lithium resources in brine extraction, including one project that has been suspended (link), and 3) mining licenses of 30% of the total output are subject to clarification o ...