Latest news with #Ganfeng
The Star
15-07-2025
- Business
- The Star
China's lithium giants tumble after 1H profit warnings
The three producers cited lower lithium sale prices from January through June. SHANGHAI: Shares in China's lithium producers fall sharply after two of the largest miners warned that battery-metal woes had weighed on earnings for the first half (1H) of financial year 2025. Tianqi Lithium Corp forecast a negligible net income of up to 155 million yuan (US$22mil) for the first six months, while Ganfeng Lithium Group Co predicted a net loss of 300 million yuan to 550 million yuan for the same period. Chengxin Lithium Group Co said its net loss could be as high as 850 million yuan. The three producers, commenting in preliminary statements released late on Monday, cited lower lithium sale prices from January through June. Chengxin's stock slid as much as 5.1% in Shenzhen. In Hong Kong, Ganfeng's stock fell as steeply as 6.8% in, while Tianqi slid 3.3%. Ganfeng said in a statement that the fall in prices of lithium salt and lithium battery products hit operating earnings 'by a certain extent', despite an orderly ramp up of battery capacity and an increase in sales. The company also said it had written down the value of assets including inventories, but provided no detail. Chengxin said it expected to take a 418 million yuan impairment on its inventory. In better news, Tianqi said that it had made progress in digesting existing lithium concentrate inventory, meaning the cost of concentrates was now approaching procurement prices. The company also expects an increase in investment income from miner Sociedad Quimica y Minera de Chile S.A., after projecting an year-on-year increase in SQM's performance in the first half. Still, even after two consecutive years of losses, spot lithium carbonate prices in China retreated by almost another fifth in the first half, battering an industry that has struggled with a supply glut and slower-than-expected electric vehicle sales. Domestic prices have seen some signs of recovery in recent weeks, thanks to Beijing's pledge to regulate 'disorderly' price competition in oversupplied sectors. The companies are due to report full reports for the six months in August. — Bloomberg
Yahoo
02-07-2025
- Business
- Yahoo
Sale Completion of Non-Core Irish Assets for CAD$ 2.5 million
Asset Portfolio Overview Vancouver, British Columbia--(Newsfile Corp. - July 2, 2025) - International Lithium Corp. (TSXV: ILC) (OTCQB: ILHMF) (FSE: IAH) (the "Company" or "ILC") is pleased to announce that it has completed the sale of all its interest in the Avalonia Project in Ireland and in Blackstairs Lithium Ltd, the company that owns that project. As announced on September 17, 2024, the Company's interest in the Avalonia Project was sold then to GFL International Co., Limited ("GFL"), a subsidiary of Ganfeng Lithium Group Co., Ltd. ("Ganfeng"), for a consideration of CAD$ 2.2 million plus a 2% Net Smelter Royalty. The Company reports that it has now sold its shareholding in Blackstairs Lithium to GFL for an additional CAD$ 0.3 million. The final CAD$ 1.0 million of the consideration for the CAD$ 2.2 million Avalonia Project is payable by GFL in October 2025. John Wisbey, Chairman and CEO of ILC, commented: "We are pleased to have completed the sale of our interest in the Avalonia Project to GFL who was our partner in Ireland. This divestment allows us to focus on our wholly owned or majority-owned projects in Canada and on progressing identified opportunities in Southern Africa. We have a strong 11-year relationship with Ganfeng, and we will welcome working with Ganfeng again on future projects when there is a mutual interest in doing so." About International Lithium Corp. International Lithium Corp. has exploration activities in Ontario, Canada, with intentions to expand into Southern Africa. It has projects at various stages, ranging from Preliminary Economic Assessment at Raleigh Lake to Pre-Drilling at Wolf Ridge. The primary target metals in Canada are lithium, rubidium and copper. There are three projects (two in Ontario and now one in Ireland) in which ILC has sold its share but where we stand to receive future payments from either a resource milestone being achieved or from a Net Smelter Royalty. While the world's politicians are currently divided on the future of the energy market's historic dependence on oil and gas and on "Net Zero", there seems to be a clear and unstoppable momentum towards electric vehicles, solar power and electric battery storage, all of which contribute to rising demand for lithium. Rubidium is increasingly seen as a valuable critical metal that is strategic for high-precision clocks and for space technology. Copper has many historical uses, but demand is projected to be sharply higher as more data centres are required for AI. We have seen the clear and increasingly urgent wish by the USA, Canada, and other major economies to safeguard their supplies of critical metals and to become more self-sufficient. Our Canadian projects, which contain lithium, rubidium and copper, are strategic in that respect. Our key mission for the next decade is to generate revenue for our shareholders from lithium and other battery metals, as well as rare metals, while also contributing to the creation of a greener, cleaner planet and less polluted cities. This includes optimizing the value of our existing projects in Canada as well as finding, exploring and developing projects that have the potential to become world-class deposits. We have separately announced that we regard Southern Africa as a key strategic target market for ILC and that we have applied for and hope to receive EPOs in Zimbabwe. We hope to make further announcements on the portfolio developments over the next few weeks and months. The Company's interests in various projects now consist of the following, and in addition, the Company continues to seek other opportunities: Name Metal Location Stage Area in Hectares CurrentOwnershipPercentage Future Ownership % if options exercised and/or residual interest Operator or JV Partner RaleighLake LithiumRubidium Ontario Dec 2023: PEAfor Li completedApr 2023 MaidenResource Estimates for Li and Rb 32,900 100% 100% ILC Firesteel CopperCobalt Ontario Aeromagneticsand Drilling started mid 2024 6,600 90% 90% ILC Wolf Ridge Lithium Ontario Pre-Drilling 5,700 0% 100% ILC Mavis Lake Lithium Ontario May 2023 Maiden Resource Estimate 2,600 0% 0%(carries an extra earn-in payment of AUD$ 0.75 million if resource targets met) Critical Resources Ltd (ASX: CRR) Avalonia Lithium Ireland Drilling 29,200 0% 0%2.0% Net Smelter Royalty GFL Intl Co Ltd (owned by Ganfeng Lithium Group Forgan/Lucky Lakes Lithium Ontario Drilling < 500 0% 0%1.5% Net Smelter Royalty Power Minerals Ltd (ASX: PNN) The Company's primary strategic focus at this point is on the Raleigh Lake Project, comprising lithium and rubidium, and the Firesteel copper project in Canada, as well as obtaining EPOs and mineral claims in Zimbabwe. The Raleigh Lake Project now encompasses 32,900 hectares (329 square kilometres) of mineral claims in Ontario and represents ILC's most significant project in Canada. To date, drilling has occurred on less than 1,000 hectares of our claims. A Preliminary Economic Assessment was published for ILC's lithium at Raleigh Lake in December 2023, with a detailed economic analysis of ILC's separate rubidium resource still pending. Raleigh Lake is 100% owned by ILC, free from any encumbrances and royalties. The Raleigh Lake Project boasts excellent access to roads, rail, and utilities. A continuing goal has been to remain a well-funded company to turn our aspirations into reality. Following the disposal of the Mariana project in Argentina in 2021, the Mavis Lake project in Canada in 2022, and now the Avalonia project, ILC continues to achieve sufficient inward cash flow to be able to make progress with its exploration projects. With the increasing demand for high-tech rechargeable batteries used in electric vehicles, electrical storage, and portable electronics, lithium has been designated "the new oil" and is a key part of a green energy, sustainable economy. By positioning itself with projects that have significant resource potential and solid strategic partners, ILC aims to be one of the preferred lithium and rare metals resource developers for investors and to continue building value for its shareholders for the rest of the 2020s, the decade of battery metals. On behalf of the Company, John WisbeyChairman and For further information concerning this news release, please contact +1 604-449-6520 or info@ or ILC@ Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Statement Regarding Forward-Looking Information Except for statements of historical fact, this news release or other releases contain certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information or forward-looking statements in this or other news releases may include: the timing of completion of any offering and the amount to be raised, the time when the Company will receive the remaining consideration payable by Ganfeng for the Avalonia Project, the effect of results of anticipated production rates, the timing and/or anticipated results of drilling on the Raleigh Lake or Firesteel or Wolf Ridge projects, the expectation of resource estimates, preliminary economic assessments, feasibility studies, lithium or rubidium or copper recoveries, modeling of capital and operating costs, results of studies utilizing various technologies at the company's projects, the Company's budgeted expenditures, future plans for expansion in Southern Africa and planned exploration work on its projects, increased value of shareholder investments in the Company, the potential from the company's third party earn-out or royalty arrangements, the future demand for lithium, rubidium and copper, and assumptions about ethical behaviour by our joint venture partners or third party operators of projects or royalty partners. Such forward-looking information is based on assumptions and subject to a variety of risks and uncertainties, including but not limited to those discussed in the sections entitled "Risks" and "Forward-Looking Statements" in the interim and annual Management's Discussion and Analysis which are available at While management believes that the assumptions made are reasonable, there can be no assurance that forward-looking statements will prove to be accurate. Should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Forward-looking information herein, and all subsequent written and oral forward-looking information are based on expectations, estimates and opinions of management on the dates they are made that, while considered reasonable by the Company as of the time of such statements, are subject to significant business, economic, legislative, and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect and are expressly qualified in their entirety by this cautionary statement. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change. To view the source version of this press release, please visit
Associated Press
02-07-2025
- Business
- Associated Press
Sale Completion of Non-Core Irish Assets for CAD$ 2.5 million
Asset Portfolio Overview Vancouver, British Columbia--(Newsfile Corp. - July 2, 2025) - International Lithium Corp. (TSXV: ILC) (OTCQB: ILHMF) (FSE: IAH) (the 'Company' or 'ILC') is pleased to announce that it has completed the sale of all its interest in the Avalonia Project in Ireland and in Blackstairs Lithium Ltd, the company that owns that project. As announced on September 17, 2024, the Company's interest in the Avalonia Project was sold then to GFL International Co., Limited ('GFL'), a subsidiary of Ganfeng Lithium Group Co., Ltd. ('Ganfeng'), for a consideration of CAD$ 2.2 million plus a 2% Net Smelter Royalty. The Company reports that it has now sold its shareholding in Blackstairs Lithium to GFL for an additional CAD$ 0.3 million. The final CAD$ 1.0 million of the consideration for the CAD$ 2.2 million Avalonia Project is payable by GFL in October 2025. John Wisbey, Chairman and CEO of ILC, commented: 'We are pleased to have completed the sale of our interest in the Avalonia Project to GFL who was our partner in Ireland. This divestment allows us to focus on our wholly owned or majority-owned projects in Canada and on progressing identified opportunities in Southern Africa. We have a strong 11-year relationship with Ganfeng, and we will welcome working with Ganfeng again on future projects when there is a mutual interest in doing so.' About International Lithium Corp. International Lithium Corp. has exploration activities in Ontario, Canada, with intentions to expand into Southern Africa. It has projects at various stages, ranging from Preliminary Economic Assessment at Raleigh Lake to Pre-Drilling at Wolf Ridge. The primary target metals in Canada are lithium, rubidium and copper. There are three projects (two in Ontario and now one in Ireland) in which ILC has sold its share but where we stand to receive future payments from either a resource milestone being achieved or from a Net Smelter Royalty. While the world's politicians are currently divided on the future of the energy market's historic dependence on oil and gas and on 'Net Zero', there seems to be a clear and unstoppable momentum towards electric vehicles, solar power and electric battery storage, all of which contribute to rising demand for lithium. Rubidium is increasingly seen as a valuable critical metal that is strategic for high-precision clocks and for space technology. Copper has many historical uses, but demand is projected to be sharply higher as more data centres are required for AI. We have seen the clear and increasingly urgent wish by the USA, Canada, and other major economies to safeguard their supplies of critical metals and to become more self-sufficient. Our Canadian projects, which contain lithium, rubidium and copper, are strategic in that respect. Our key mission for the next decade is to generate revenue for our shareholders from lithium and other battery metals, as well as rare metals, while also contributing to the creation of a greener, cleaner planet and less polluted cities. This includes optimizing the value of our existing projects in Canada as well as finding, exploring and developing projects that have the potential to become world-class deposits. We have separately announced that we regard Southern Africa as a key strategic target market for ILC and that we have applied for and hope to receive EPOs in Zimbabwe. We hope to make further announcements on the portfolio developments over the next few weeks and months. The Company's interests in various projects now consist of the following, and in addition, the Company continues to seek other opportunities: The Company's primary strategic focus at this point is on the Raleigh Lake Project, comprising lithium and rubidium, and the Firesteel copper project in Canada, as well as obtaining EPOs and mineral claims in Zimbabwe. The Raleigh Lake Project now encompasses 32,900 hectares (329 square kilometres) of mineral claims in Ontario and represents ILC's most significant project in Canada. To date, drilling has occurred on less than 1,000 hectares of our claims. A Preliminary Economic Assessment was published for ILC's lithium at Raleigh Lake in December 2023, with a detailed economic analysis of ILC's separate rubidium resource still pending. Raleigh Lake is 100% owned by ILC, free from any encumbrances and royalties. The Raleigh Lake Project boasts excellent access to roads, rail, and utilities. A continuing goal has been to remain a well-funded company to turn our aspirations into reality. Following the disposal of the Mariana project in Argentina in 2021, the Mavis Lake project in Canada in 2022, and now the Avalonia project, ILC continues to achieve sufficient inward cash flow to be able to make progress with its exploration projects. With the increasing demand for high-tech rechargeable batteries used in electric vehicles, electrical storage, and portable electronics, lithium has been designated 'the new oil' and is a key part of a green energy, sustainable economy. By positioning itself with projects that have significant resource potential and solid strategic partners, ILC aims to be one of the preferred lithium and rare metals resource developers for investors and to continue building value for its shareholders for the rest of the 2020s, the decade of battery metals. On behalf of the Company, John Wisbey Chairman and CEO For further information concerning this news release, please contact +1 604-449-6520 or [email protected] or [email protected]. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Statement Regarding Forward-Looking InformationTo view the source version of this press release, please visit
Yahoo
22-05-2025
- Business
- Yahoo
Argentina green-lights Rio Tinto's $2.5bn lithium project under RIGI incentive scheme
Argentina's Government has officially approved Rio Tinto's $2.5bn (2.86trn pesos) Rincon lithium mining project, the first mining project under the newly established RIGI investment incentive regime, reported Reuters. The Rincon project is situated in Salar Del Rincón, Salta province, Argentina. The approval announcement was made by Daniel Gonzalez, the country's Mining and Energy Coordination Secretary, at a conference in Buenos Aires. The mining sector in Argentina had been voicing concerns regarding the prolonged approval process for seven projects that were submitted since the RIGI programme's launch nine months ago. The RIGI framework aims to offer tax and customs advantages, access to international arbitration for disputes and long-term stability plans. Other companies that have applied for the RIGI programme include China's Ganfeng, Canada's McEwen Copper and South Korea's Posco. Of these, five are lithium projects, with the remaining two focused on gold and copper. Despite regulations stipulating a decision within a maximum of 45 working days, only Rio Tinto's project has been approved to date. Industry insiders suggest that the government did not intend to delay the process but was navigating complex approval procedures across various state departments. Some companies may have also submitted premature applications that did not meet the necessary criteria. Argentina CAEM mining chamber head Roberto Cacciola said: "We are grateful because there was strong anxiety over what was happening with the mining RIGIs. This was major news." The libertarian government led by President Javier Milei is aiming to bolster Argentina's mining industry to attract foreign currency and maintain economic stability amidst high inflation rates. As the fourth-largest lithium supplier globally, Argentina, alongside Chile and Bolivia, is part of the 'lithium triangle', which has the largest reserves of the metal essential for electronics and electric vehicles. Argentina is not only a significant exporter of gold and silver but is also anticipating the development of substantial copper projects. However, as of now, none of the copper projects are in production. Last year, Argentina's mineral exports amounted to $4.8bn, with gold leading the way, followed by silver and lithium. In February 2025, Worley was selected as the lead integration delivery partner for the Rincon lithium project. "Argentina green-lights Rio Tinto's $2.5bn lithium project under RIGI incentive scheme" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
12-02-2025
- Business
- Yahoo
China's Ganfeng starts lithium production at Argentina's Mariana project
BUENOS AIRES (Reuters) - China's Ganfeng Lithium mining company has begun producing lithium at its Mariana project in northern Argentina, it said on Wednesday, kicking off one of several of its new lithium projects under way in the South American country. Ganfeng is one of the world's biggest producers of the white metal that is mainly used to make rechargeable batteries. The Mariana plant, in the province of Salta, represents a $790 million investment and has the capacity to produce 20,000 metric tons of lithium chloride per year from extraction at the Llullaillaco salt flat. See for yourself — The Yodel is the go-to source for daily news, entertainment and feel-good stories. By signing up, you agree to our Terms and Privacy Policy. Ganfeng also spent $190 million to build a solar park to support the plant's energy needs. Wang Xiaoshen, president of Ganfeng Lithium Group, said the company's other Argentina lithium projects are advancing. Pozuelos-Pastos Grandes is scheduled to start construction this year, while the Incahuasi–Arizaro project is in the advanced exploration phase, he said in a statement. Ganfeng is also a co-owner with Lithium Argentina of the Cauchari-Olaroz project, which is already in operation, and the Pastos Grandes project, in the feasibility stage. President Javier Milei's administration has welcomed mining projects as a way to pump foreign investment into the country, and has offered an incentives scheme praised by international copper and lithium miners. Argentina, along with Chile and Bolivia, comprise Latin America's so-called lithium triangle containing one of the world's biggest reserves of the ultra-light metal. A string of lithium projects is in development in Argentina by other companies as well, although some have been delayed due to low lithium prices caused by oversupply and a slowdown in sales of electric vehicles. Speaking at the project's inauguration, Mining Secretary Luis Lucero expressed hope that the Mariana plant can help strengthen local economies. "The Mariana project not only represents an important source of foreign currency earnings, but also the creation of genuine, quality employment for hundreds of families," he said.
