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Chinese miners Zijin and Ganfeng each reported on Sunday attributable net profits for 2022 of about RMB20 billion (US$2.96 billion), with the principally gold-involved Zijin seeing a 28% year-on-year rise, while lithium-focused Ganfeng’s profit soared by between 244% and 321% on record prices for the commodity.
Ganfeng plans to produce a total of 300,000tpa LCE by 2025 and “no less” than 600,000tpa LCE by 2030.
Ganfeng estimated its net profit for the year would be between RMB18 billion to RMB22 billion, while Zijin's preliminary estimate was RMB20 billion.
Lower lithium prices weigh on equities
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