Lithium & The Future, page-7636

You hide your light under a bushell Gibbster
Thank you for bringing this story;
For anyone who missed the link -

“Chinese Lithium Supplier Weihua to Build USD180 Million Lithium Hydroxide Plant”

Spoiler : 23/10/20 AJM Client Expansion

Chinese Lithium Supplier Weihua to Build USD180 Million Lithium Hydroxide Plant
TANG SHIHUA
DATE: OCT 23 2020
/ SOURCE: YICAI
Chinese Lithium Supplier Weihua to Build USD180 Million Lithium Hydroxide Plant

(Yicai Global) Oct. 23 -- Guangdong Weihua’s share price jumped over 6 percent this morning after it announced a plan to invest CNY1.2 billion (USD 180 million) to build a lithium hydroxide production facility to meet rising demand from the electric vehicle industry.

The new facility in Shehong in southwestern Sichuan province is designed to turn out 30,000 tons of lithium hydroxide annually.

Weihua's shares [SHE:002240] had shot up by 6.17 percent to CNY12.73 (USD1.91) at 11.00 a.m. on the news.

The project’s first phase, which will have an annual production capacity of 20,000 tons and is expected to cost CNY850 million (USD127.5 million), is set to start construction by year’s end, the company added, but without specifying a date for it to start running.

Shenzhen based Weihua currently operates a 40,000-ton-per-year lithium salt facility in Deyang Sichuan province.
Its products include battery grade lithium carbonate, lithium hydroxide monohydrate and lithium chloride.

The Deyang facility operator signed a two-year lithium hydroxide supply deal in August with Seoul-based LG Chemical, one of the world’s biggest makers of lithium-ion batteries, with 1,500 metric tons to be shipped before the end of the year.

LG Chem’s new factory in Nanjing in eastern Jiangsu province started mass producing lithium-ion cells earlier this year.

Altura signed a binding offtake agreement with Weihua in August 2019 [ref] for 50,000 tonnes per annum. Altura’s mysterious original customer and large shareholder, Lionergy , made room for this deal to proceed;
... “Lionergy has agreed to a reduction in tonnage covered by their existing offtake obligation which will now provide for a minimum annual allocation of 65,000 dmt (previously 100,000 dmt.” )

Perhaps if Weihua wishes to increase its’ order with AJM so as to secure future supplies, Lionergy will make way again?

Cheers and GL to all here for happy news tomorrow .



PS :FWIW a bushel is not one dozen bushes but it is a measure : [The bushel.......a container for measuring dry goods such as grain or peas. It was typically a wooden bucket with a volume of eight gallons (though this has varied over place and time).]


PPS ..Rupfel I do not remember posting HC was more widely read than HC .