-
Top China lithium firms look past profit slump and vow expansion
Undeterred by slumping profits, China’s lithium giants are planning to grab a bigger slice of the market. Tianqi Lithium Corp. and Ganfeng Lithium Group Co. reported sharp drops in 2023 net income last week after prices plunged more than 80% over the year. Both said they’ll continue to acquire global reserves of the key battery material and increase production capacity, as bigger firms look beyond near-term weakness to the promise of rising demand in the years to come. Improved supply prospects and slowing demand growth from electric vehicles have forced a number of companies from Australia to the US to rein in ... (full story)