The wave of new project proposals in the Chinese lithium industry in recent months comes as battery-grade lithium carbonate prices in China have more than quadrupled this year to record highs on resurgent EV demand.
The move marks Huayouβs second foray into lithium, a key ingredient in rechargeable batteries, in the space of a week. It is the latest acquisition of overseas battery mineral resources by Chinese companies looking to shore up supply to meet demand from the burgeoning electric vehicle (EV) sector.