Ganfeng Lithium to buy 50% of Mali mine for $130 million - MINING.COM

From the article:

Targeting hot spots

Ganfeng has been strengthening its investment and development capability in the lithium market over the past year. In early May, the company announced the acquisition of lithium explorer and developer Bacanora Lithium (LON:BCN), becoming the sole owner of the Sonora project in Mexico.

The mine is expected to begin production in 2023 and produce 35,000 tonnes of lithium per year once at full tilt.

The company is also exploring setting up a batteries plant in Argentina, where is developing the Cauchari-Olaroz lithium brine project. 

Beijing announced last year a development plan for the so-called new energy vehicle (NEV) industry in 2021-35. It is targeting a 20% share of NEVs in the country’s total vehicles sales by 2025, which supports the demand for battery materials in the long run.

A recent report by the International Energy Agency (IEA) recommends governments start stockpiling battery metals, noting that lithium demand could increase 40-fold in the next 20 years. IEA executive director Fatih Birol said this would become an “energy security” issue. China dominates lithium processing, while mine supply largely comes from Chile and Australia.