Latest news with #ZanggeMining
AU Financial Review
24-07-2025
- Business
- AU Financial Review
Lithium bull market sends Pilbara Minerals and MinRes rocketing
Australia's beaten-down lithium sector has burst back to life this month amid signs that a lingering glut of the battery material is finally starting to ease, triggering a rush of trading activity. Pilbara Minerals and Mineral Resources – among the most targeted by short sellers on the ASX – have rocketed more than 50 per cent since June. The rally turbocharged by news last week that Chinese producer Zangge Mining was forced to halt production at its Qarhan project after regulators found its mining license was invalid.
Yahoo
17-07-2025
- Business
- Yahoo
Zangge halts lithium production in Chinese province of Qinghai
Chinese miner Zangge Mining, controlled by state-owned giant Zijin Mining, has announced a suspension of lithium production at its facility in Qinghai province following directives from local government officials, reported Reuters. The miner received a notice from Haixi prefecture authorities demanding an immediate stop to non-compliant mining activities, as per a Shenzhen exchange filing. The specific reasons for non-compliance were not disclosed in the filing. Zangge Mining had projected its lithium carbonate production to reach 11,000 tonnes (t) this year. However, operations can only recommence upon receiving approval from the local government. The company has indicated its intention to align its mining operations with compliance standards and to apply for a resumption of production. Zangge Mining stated: "Since it is not yet possible to determine the specific time of Zangge Lithium's resumption of production, the impact on the company cannot be predicted for the time being.' This uncertainty has contributed to volatility in the lithium market, leading to a significant increase in lithium prices. The most actively traded lithium carbonate futures contract on the Guangzhou futures exchange saw a sharp increase to nearly a three-month high following the news of the production halt. The news has positively influenced market sentiment for the critical electric vehicle battery material. Despite the production halt, Zangge Mining anticipates that the impact on its financial results will be minimal. The company expects to produce approximately 5,350t of lithium in the first half of the year. Zijin Mining acquired a controlling stake in Zangge Mining in May 2025, part of its strategy to expand in the lithium market. "Zangge halts lithium production in Chinese province of Qinghai" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
17-07-2025
- Business
- Bloomberg
Chinese Lithium Prices and Shares Rise After Zangge Mining Halt
Chinese lithium prices and company shares surged after a domestic producer said it was ordered by local authorities to halt mining of the battery material. Zangge Mining Co. said a fully owned unit received a notice on Wednesday from the government in Haixi in the western province of Qinghai to immediately stop illegal mining activities, and to adhere to the rules that govern lithium resources.
Reuters
17-07-2025
- Business
- Reuters
China lithium futures near 3-month high after Zangge announces production halt
BEIJING, July 17 (Reuters) - Lithium futures in China climbed on Thursday to a nearly three-month high after a production halt at a major lithium producer boosted sentiment for the electric vehicle battery material. Miner Zangge Mining ( opens new tab said in an exchange filing that it had halted lithium production at a mine in Qinghai province following orders from local officials. The most active lithium carbonate futures on the Guangzhou Futures Exchange jumped more than 4% in afternoon trade to hit 69,980 yuan ($9,749.51) per metric ton, the highest since April 21. "Speculative sentiment is pretty strong right now but the actual impact will be limited, said Chen Jing, a Beijing-based analyst at Galaxy Futures, referring to the production suspension of a subsidiary of Zangge. ($1 = 7.1778 Chinese yuan)
CNA
17-07-2025
- Business
- CNA
Chinese miner Zangge halts lithium production at subsidiary after govt order
BEIJING :Chinese miner Zangge Mining said on Thursday it had halted lithium production at a unit in Qinghai province on orders from local officials, sending lithium prices up more than 4 per cent in afternoon trading. The miner, controlled by state-owned giant Zijin Mining, received a notice from Haixi prefecture officials on Wednesday ordering an immediate halt to non-compliant mining, according to a Shenzhen exchange filing. The filing did not say how the mining was non-compliant. Production, which was forecast to hit 11,000 tons of lithium carbonate this year, can only resume with local government approval. Zangge said it plans to make its mining compliant and submit an application. "Since it is not yet possible to determine the specific time of Zangge Lithium's resumption of production, the impact on the company cannot be predicted for the time being," it said in a statement. The most active lithium carbonate futures contract on the Guangzhou futures exchange jumped more than 4 per cent when afternoon trading began at 1.30 p.m. (0550 GMT). Zangge said it expected the shutdown to have only a limited impact on its results. Output at the mine is expected to hit 5,350 metric tons in the first half, it added.
