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Lithium’s Historic Rally Fuels Record Profits for China’s Miners

  • Tianqi Lithium’s preliminary net income surged over 1,000%
  • Ganfeng sees earnings increase on higher prices, battery sales

China’s big lithium miners are set to reap record earnings after booming demand for the electric vehicle battery material sent prices surging to an all-time high last year. 

Tianqi Lithium Corp. forecasted preliminary net income for 2022 skyrocketed more than 10-fold, while rival Ganfeng Lithium Group Co. is predicting a surge of as much as 321%.