China’s CATL restarts lithium mines, a refinery in Jiangxi Province

Violet Li and Mei Mei Chu

BEIJING (Reuters) – Chinese battery giant CATL has reopened its lithium lepidolite mines and refineries in jiangxi province.

The reopening of operations is largely due to CATL’s success in reducing production costs at both facilities, the spokesman said.

“The operation is currently producing more than 2,000 tons of lithium carbonate. As we move forward, our plan is to increase production and exceed 3,000 tons of lithium carbonate per month,” they said. said.

Reuters reported on Friday that the mine had rebooted, citing a report from UBS. The CATL did not respond to email questions from Reuters.

CATL’s mine in Jiangxi, southern China, was a major contributor to China’s rapidly growing supply of lithium, the world’s leading processor of battery materials. Reports of the closure in September led to a rapid rally in lithium stock.

Australian lithium minor stocks fell on Tuesday in news that the mines reopened.

The most trade-handed lithium carbonate futures contract in November closed on Tuesday at 77,300 yuan ($10,578) ($10,578), down 1.6% since the end of Monday.

The CATL stock price on the Shenzhen Stock Exchange closed at 251.8 yuan on Tuesday, down 2.6% from Monday.

($1 = 7.3073 yuan)

(Reporting by Violet Li and Mei Mei Chu, edited by Hugh Lawson)