CATL has reportedly halted mining at its Jianxiawo lepidolite operation effective this weekend, with no short-term restart plan, according to China’s Futures Daily. The outlet reported in Mandarin: “The other shoe has dropped: CATL’s Jianxiawo mine has confirmed a halt at the mining end. Sources: no plan to restart in the short term,” after cross-checking with multiple market sources.
Market chatter had intensified in recent weeks over whether the site would be forced offline. The operational stop lands as paperwork looms. “Traders have been flying drones over a lithium mine run by [CATL]… days before a key permit expires,” a Bloomberg report said. It also noted the mine was “awaiting an extension to its mining paperwork if it is to continue working beyond this weekend.”
Prices firmed into the weekend. The most-active lithium carbonate futures on the Guangzhou Futures Exchange rebounded about 9% on the week to trade near ¥75,000 on Friday, nearing the peak it reached above ¥80,000 per tonne in July.
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CATL has not provided a fresh public comment in the materials reviewed here. The company told investors last week it had submitted an application to extend the permit, adding that the mine was operating normally.
Information for this story was found via Bloomberg and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
