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AllAfrica
7 days ago
- Business
- AllAfrica
Lithium price jump exposes China's chokehold on supply
Global lithium prices rose significantly after China's Contemporary Amperex Technology Co. Limited (CATL), the world's largest electric vehicle (EV) battery manufacturer, halted its mine operations in Yichun, Jiangxi province. On Monday, CATL announced that it has temporarily shut down its Jianxiawo lithium mines in Yichun, known widely as 'Asia's lithium capital.' The suspension could last for at least three months, but may extend longer depending on the outcome of regulatory review processes. The announcement followed the company's failure to renew an expired mining permit on August 9. CATL said it is addressing compliance requirements with government agencies. Lithium prices have been volatile in 2025. Due to reports about the potential shutdown of the Yichun mines, the futures price of lithium carbonate increased from 58,400 yuan (US$8,124) per ton on June 23 to 80,500 yuan per ton on July 25. However, lithium prices fell again after the Guangzhou Futures Exchange set a cap on the number of daily transactions per trader on July 25. They decreased to 68,000 yuan per ton on August 5. Then speculators entered the market again. Lithium prices rebounded by 8% to 81,000 yuan per ton on Monday's trading day, as CATL formally announced its decision to halt mine operations in Yichun. Still, the mineral's prices are 86% off from their peak of 590,000 yuan per ton in November 2022. Shares of Chinese lithium miners rose on Monday on the surge in lithium prices. Tianqi Lithium Corp rose 18.2% to HK$48.48 (US$6.18), while Ganfeng Lithium gained 20.9% to HK$34. Some Chinese commentators suggested that CATL's failure to renew its mining licenses in Yichun, followed by the rebound in lithium carbonate prices, was a result of the central government's new directive to reduce market competition and boost corporate profits. 'The sharp increase in price of lithium carbonate, and also that of coking coal, was caused by the storm of Beijing's 'anti-price war' in July,' Sammy Kip, a Hubei-based columnist, says in an article published on August 9. 'However, lithium carbonate and coking coal prices corrected significantly between July 28 and August 5.' Kip says that many individual commodity speculators were still counting their losses on August 6 when the price began to surge again. He says that commodity traders are now split into two camps. One believes that the government's 'anti-price war' policy will continue to support the lithium price, while the other remains bearish. 'Those who bet on an increasing lithium price should stay vigilant as government policy can change at any time,' he says. The National Statistics Bureau (NBS) reported on July 27 that industrial profits of Chinese firms fell by 1.8% year-on-year to 3.44 trillion yuan in the first half of this year. Ganfeng Lithium stated in a stock exchange filing on July 14 that its net loss would be between 300 million and 550 million yuan for the six months ended June 30, due to declining prices for lithium salts and battery products. Lithium carbonate (Li2CO3) is a kind of lithium salt. Tianqi Lithium Corp said it might record a net profit of up to 155 million yuan in the first half of 2025, compared with a net loss of 5.2 billion yuan in the same period of last year. It stated that it benefited from a shorter price cycle for its unit's lithium concentrates. Still, it stressed that a decline in lithium product prices may adversely affect its operating results. The Politburo of the Chinese Communist Party (CCP) Central Committee, in a meeting on July 30, decided to deepen the construction of a unified national market, promote the continuous optimization of market competition order and govern disorderly competition among enterprises by laws and regulations. Chinese media referred to this as an 'anti-involution' campaign. Li Pan, an analyst at Shanghai Ganglian E-commerce Holdings ( a lso known as Mysteel Group), said that the global lithium carbonate market has remained oversupplied this year, while demand from downstream manufacturers has been sluggish. 'EV batteries and battery energy storage systems (BESS), the two largest downstream sectors, have shown a slowing demand for lithium carbonate this year,' he said. In early 2020, the price of lithium carbonate was only 40,000 yuan per ton. It increased to 590,000 yuan per ton in November 2022, driven by rapid growth in the new energy car market. In February 2023, the reported the illegal lithium mining in Yichun. It said that hundreds of villagers entered abandoned mines in search of the mineral. Each villager could earn 1,000 yuan a day through these illegal operations, compared to 1,600 yuan a month in the past. After this, market demand and the price of lithium carbonate continued to fall, while the metal's supply increased in China, Africa, Australia and Chile. Additionally, the US imposed a 100% tariff on Chinese EVs in May 2024, while the European Union imposed tariffs ranging from 17% to 45% on them in October last year. These protectionist moves hurt the demand for lithium from Chinese EV makers. Some analysts and commentators have noted that although local lithium carbonate output is declining, lithium prices are unlikely to increase significantly. Wei Xin, an analyst at China Post Securities, said the global supply of lithium carbonate equivalent (LCE) is projected to reach 1.6 million tonnes in 2025, with an overcapacity of 94,700 tons. He said this situation will continue at least until 2027. A Hebei-based columnist says in an article that CATL may have sourced s ufficient lithium carbonate from foreign suppliers before the recent surge in lithium prices. He says that although CATL halted its mining operations in Yichun, small mining firms may continue to extract the minerals illegally at night, worsening oversupply. Read: China moves to stop price wars in 'anti-involution' push
ABC News
10-07-2025
- Science
- ABC News
Dogs cruise creeks on paddle boards to sniff out and help the vulnerable platypus
Donning their vests and putting their best paw forward, these sniffer dogs are on a mission to save an Australian icon. Kip the kelpie and Moss the labrador are the newest members of the conservation team at Healesville Sanctuary in Victoria. Dubbed the "paddle pups", the dogs are trained to help scientists find and track species in the wild. After working in Gippsland to find elusive Baw Baw frogs, the dogs have graduated to joining their handlers on paddle boards to help track platypuses. And where many humans struggled to stay afloat, Healesville wildlife detection dog officer La Toya Jamieson said the dogs were excelling. "We were pleasantly surprised with how quickly they learnt how to manoeuvre themselves around a paddle board in order to detect the platypus and they were just really excited to be doing so," she said. Healesville scientists hope the dogs will help them better study platypuses in the wild. The platypus is listed as vulnerable in Victoria and endangered in South Australia, with a loss of habitat and illegal fishing practices among the biggest threats to the species. Healesville Sanctuary platypus specialist Jessica Thomas said that, despite its status as one of the country's most iconic species, little was known about the platypus. In more than 100 years of study, Dr Thomas said, no-one had seen a platypus lay an egg. "It sounds quite basic but it's still a gap in our knowledge bank and I think one of the reasons that we don't know this stuff is that they have that reputation of being very cryptic," she said. "They spend their time underwater and underground and they're also nocturnal, so they're quite challenging just to observe, let alone study." The paddle pups allow scientists to study platypuses in the wild with less disruption to their habitat. "Because of our dogs' incredible sense of smell, we're able to have a better understanding of how these platypus are living and using their environment," Dr Jamieson said. Dr Jamieson said the aim of using the paddle pups was for scientists to gather data to provide a more complete picture of how platypuses lived in the wild. "This paddle board has been a game changer for us because we've been working with our detection dogs on platypus for several years now and particularly in the high rainfall years, we'll have a lot of burrows that we simple can't access, which means that our teams haven't been able to survey stretches of the creek system," she said. The dogs' work comes at an ideal time, with the new Australian Platypus Conservation Centre opening at Healesville. With the mission to rehabilitate and return sick or injured platypuses to the wild, the $1 million centre includes nine connecting ponds of various depths and water flows, banks for burrowing and clear water. "This facility has really been designed to replicate some of the natural variation that you see out in the wild habitat," Dr Thomas said. "It's got lots of earth banks for them to create their own and it's got varied water depths where they can forage in the shallow areas." The new centre has been tested by resident platypus Millsom, who came to the centre 23 years ago as an orphaned puggle. Scientists are now hopeful the centre will help them continue their work to understand more about the species.
The Sun
17-05-2025
- Automotive
- The Sun
GSM launches Xanh SM platform, officially distributes VinFast VF 3 and VF 5 electric vehicles in Laos
VIENTIANE, LAOS - Media OutReach Newswire - 17 May 2025 – Green and Smart Mobility Joint Stock Company (GSM), the operator of Xanh SM – Southeast Asia's first all-electric ride-hailing service – has officially launched the Xanh SM Platform in Laos. In tandem, GSM announced the official distribution of two electric vehicle models, the VinFast VF 3 and VF 5, in the country. Laos is the second international market, following Vietnam, where GSM is deploying its comprehensive model that integrates electric vehicle distribution with eco-friendly ride-hailing services. This expansion marks a strategic milestone in GSM's 'Go Green Global' vision, underscoring its pioneering role in bringing Vietnam's sustainable transportation model to the regional stage. Following more than a year of successful operations in Vientiane, Vang Vieng, Savannakhet, and Champasak, Xanh SM has earned strong support from Laotian users. Millions have embraced the service, traveling over 8 million electric kilometers and collectively reducing carbon emissions equivalent to what 70,000 trees absorb in a year—highlighting the model's compatibility with and impact on the local market. Building on this foundation, GSM is now introducing the Xanh SM Platform – an open technology solution that empowers VinFast VF 5 owners in Laos to become ride-hailing partners and generate sustainable income. With a highly competitive revenue-sharing model offering drivers up to 87% of fare income—among the highest in the Laotian market—the Xanh SM Platform not only ensures attractive earnings but also provides access to a large customer base through the Xanh SM ecosystem. Partners will benefit from comprehensive training programs aligned with international standards for green transport services. Coinciding with the platform launch, GSM also opened its first VinFast showroom in Laos, located on Kaysone Phomvihane Road, Phakao Village, Xaythany District. The company officially introduced and commenced sales of the VinFast VF 3 and VF 5, with GSM serving as the exclusive distributor for VinFast vehicles in Laos. The VinFast VF 5 is a compact urban SUV, ideal for service operations with its spacious interior, smart design, and optimized performance. It is listed at 450,297,000 Kip (approx. USD 20,690, VAT included). Customers placing deposits before May 31, 2025, will receive a direct discount of 9,794,000 Kip (USD 450) and enjoy 50% off charging fees for two years (until June 30, 2027). Alternatively, the charging benefit can be converted into a USD 1,000 cash discount on the vehicle price. This brings the total incentive package to 31,558,000 Kip (USD 1,450), lowering the effective cost to just 418,740,000 Kip (USD 19,240). The VinFast VF 3 is a four-seat mini electric car designed for everyday personal use—perfect for young drivers and first-time car owners. The VF 3 is priced at 269,656,000 Kip (USD 12,390, VAT included). Early customers depositing by May 31, 2025, will receive a discount of 5,440,000 Kip (USD 250) and 50% off charging costs for two years (until June 30, 2027). Customers may also convert this benefit into a USD 250 cash deduction from the purchase price, bringing the total incentive value to 10,880,000 Kip (USD 500), reducing the effective price to around USD 11,890. Mr. Nguyen Van Thanh, Global CEO of GSM, shared: 'The launch of the Xanh SM Platform in Laos is not merely a market expansion—it represents a strategic export of a comprehensive sustainable development model where technology, environmental responsibility, and economic opportunity converge. We believe Vietnam is not only capable of producing green vehicles, but also of leading the global mobility transition. Xanh SM is living proof of that vision.' The simultaneous launch of the Xanh SM Platform and the official distribution of the VF 3 and VF 5 in Laos further strengthens the presence of Vietnamese innovation on the global green mobility map. It also reflects GSM's long-term commitment to supporting the Laotian people in building a modern, environmentally friendly, and sustainable transportation infrastructure.
Miami Herald
13-05-2025
- Business
- Miami Herald
Costco puts food-court favorites on shelves in surprising twist
One of the things people tend to love about Costco is the element of surprise. Sure, Costco is known for its almost unbeatable prices. And there's nothing like being able to load up on free samples in the course of doing your grocery shopping. Don't miss the move: Subscribe to TheStreet's free daily newsletter But one thing that sets Costco apart from its competitors, aside from its staunch commitment to excellent customer service, is the treasure hunt aspect of shopping there. Related: Trader Joe's copies Costco, delights fans Costco not only likes to introduce new inventory, but it sometimes likes to hide it throughout the warehouse. And if customers know there are hidden treasures to be found, they're more likely to spend time roaming the aisles. That could lead to more purchases per shopping trip, which is exactly what Costco wants. Image source: Brown/AFP via Getty Images Another thing Costco has going for it is its food court. Some supermarkets have their own food courts where shoppers can take a break or grab a quick bite on the way out the door. And Target has had success with its store-in-store Starbucks locations. Related: Costco members pounce after warehouse club makes pricing mistake But Costco's food court is in a class by itself. Not only is the food court loaded with favorite items such as smoothies and the warm, gooey chicken bake, but it's also loaded with deals. There's perhaps no more iconic a deal than the inflation-proof $1.50 hot dog and soda combo. And while it doesn't tend to get quite as much attention, the pizza is a real bargain, too. An oversized slice costs just $1.99, while an entire pie costs $9.95. And Costco doesn't charge extra for pepperoni topping, which is a huge money-saver for customers. Some of Costco's food-court items are available in take-home versions. The giant food-court chocolate chip cookie, which is sold for $2.49, is available in 24-packs in Costco's bakery section. Costco also sells a frozen version of its beloved chicken bake. Related: Costco members reject high-end food product Now, Costco is bringing even more of its food-court favorites to its warehouse club shelves. Only instead of introducing them in edible form, the company has created a lineup of dog toys. The lineup, called BARK Food Court Dog Toys, features plush foot court-themed items. Costco is selling a set of five that includes: Pepperoni Pete, which looks like a smiling pizza sliceChocolate Kip, which mimics the famous chocolate chip cookieHot Dog Donny, an ode to the perpetually affordable hot dogSoda Sid & Brice Cube, a plushie shaped like a sodaA plush Executive membership card While the item is reportedly popping up in Costco stores, members who can't find it on the shelves can try ordering it online. Of course, like any dog toy, the durability of these items will hinge on the pet they're being given to. But while their staying power may be questionable, it's clear that dog owners are excited, with many taking to Reddit to share their enthusiasm. "I want it!" one user posted. "This is amazing. I hope our store gets them soon!" said another. More retail: Walmart CEO sounds alarm on a big problem for customersTarget makes a change that might scare Walmart, CostcoTop investor takes firm stance on troubled retail brandWalmart and Costco making major change affecting all customers This latest addition is a smart play by Costco, given how obsessed people tend to be with their dogs, and amid consumers cutting back on non-essential spending to cope with higher living costs. At a time when members are spending their money more carefully, Costco knows its new discretionary products need to have strong appeal. By combining people's love for the store's food court with their love for their pets, Costco has done a great job of putting the ultimate impulse purchase on its shelves. Maurie Backman owns shares of Costco. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Arabian Post
08-05-2025
- Business
- Arabian Post
Laos Charts Bold Course to Lead Asia's Gold Trade
Laos has unveiled an ambitious plan to transform itself into a central hub for gold trading and refining in Asia by 2030, spearheaded by the Lao Bullion Bank . This initiative aims to bolster the nation's financial stability and elevate its standing in the global precious metals market. At a strategic meeting held on 2 May, LBB's Chief Executive Officer, Chanthone Sitthixay, detailed the bank's vision to establish Laos as a leader in the precious metals sector. The plan encompasses the development of comprehensive gold trading platforms, refining capabilities, and secure storage solutions, aligning with international standards to attract both regional and global investors. The Lao Bullion Bank, officially launched in December 2024, represents a significant step in the country's economic strategy. The bank's establishment is a collaborative effort between the Lao government and PTL Holding, with the government holding a 25% stake and PTL Holding owning the remaining 75%. This partnership underscores a commitment to enhancing the nation's gold reserves and stabilising the local currency, the Kip. Since its inception, LBB has introduced various services, including gold deposit accounts, loans backed by gold collateral, and gold vending machines. These offerings aim to integrate gold more deeply into the financial system, providing citizens with alternative investment options and contributing to economic resilience. To strengthen its position in the regional market, LBB has entered into strategic partnerships with key industry players. In October 2024, the bank signed a Memorandum of Understanding with the Singapore Bullion Market Association , focusing on knowledge exchange and regulatory collaboration to enhance Laos's bullion market infrastructure. Additionally, a partnership with StoneX APAC was established to leverage technological expertise and develop new financial products tailored to the precious metals sector. In March 2025, LBB further expanded its network by partnering with Samlane Jewelry, a prominent local gold retailer. This collaboration aims to standardise gold trading practices within the country and facilitate smoother transactions for investors and consumers. As part of this initiative, a promotional campaign was launched, offering incentives to customers who deposit gold with the bank, thereby encouraging public participation in the formal gold market. The bank's efforts are also directed towards refining unmined gold ores, transforming them into valuable assets that can contribute to the national budget and reserves. By doing so, Laos seeks to maximise the value derived from its natural resources, ensuring sustainable economic growth and financial independence. LBB's establishment and its subsequent initiatives reflect a broader governmental strategy to integrate Laos more fully into the global financial system. By positioning itself as a central player in the precious metals market, Laos aims to attract foreign investment, enhance its economic stability, and offer its citizens diversified financial services.
