In another development:China’s Shenzhen Chengxin Lithium Group...

In another development:
China’s Shenzhen Chengxin Lithium Group Co Ltd and an affiliate of steel and nickel giant Tsingshan Holding Group will invest in a $350 million Indonesian lithium project to capture demand from the electric vehicle (EV) battery sector.
Chengxin said the plant would produce 50,000 tonnes a year of lithium hydroxide and 10,000 tonnes a year of lithium carbonate, without providing a startup date.
Chengxin did not say from where the lithium plant would source its raw materials but Daiwa Capital Markets analyst Dennis Ip said in a note that nearby Australia, which mines lithium-rich mineral spodumene, was the most likely option.“It will be interesting to see which Australian miners have spare spodumene resources to be sold to Chengxin,”