Beijing is adding lithium mining to its long list of crackdown targets. An official probe into alleged environmental rule breaking has imposed shutdowns on China’s largest mine and production hub, according to local reports. Curiously, this could end up benefiting the local electric battery giant CATL.
Miners in Yichun, Jiangxi province, produce about a tenth of the global supply of lithium. This area is home to the world’s largest mine for lithium-bearing mineral lepidolite, with reserves of 1.1mn tonnes.
Coping with crackdowns has become a normal part of doing business in China. Probes and restrictions have spanned the tech, education and property sectors. Harsh scrutiny typically follows share price gains and record earnings.
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