On the evening of August 24, Chengxin Lithium announced that the company plans to invest in the construction of lithium sulfate projects with an annual capacity of 75,000 tonnes each in Zimbabwe and Nigeria, with total planned investments of approximately US$244 million and US$233 million, respectively, for a combined total of approximately US$477 million (approximately Yuan 3.208 billion).
Chengxin Lithium already owns the Sabi Star Lithium-Tantalum Mine project in Zimbabwe, with a raw ore production scale of 990,000 tonnes per year and an annual lithium concentrate output of approximately 290,000 tonnes. At the same time, the company is constructing a mineral processing plant in Nigeria with a processing capacity of 500,000 tonnes per year and plans to further expand its capacity.
On the same day, Chengxin Lithium released its interim report for the first half of 2026. During the reporting period, the company's lithium product output reached 56,500 tonnes, up 68.63% YoY. Sales volume reached 58,800 tonnes, up 115.56% YoY. Its operating revenue amounted to Yuan 7.358 billion, representing a year-on-year increase of 355.94%., and net profit attributable to shareholders reached Yuan 1.012 billion, up 220.30% YoY.
Edited by Cassie Li, lixiangying@mysteel.com
