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On September 29th, Ganfeng Lithium announced that Ganfeng Lithium and its wholly-owned subsidiary Ganfeng International and BayerischeMotorenWerkeAktiengesellschaft. (BMW) signed a "Strategic Cooperation Agreement" on September 28th, 2018, agreeing to supply lithium chemical products to battery or positive electrode material suppliers designated by BMW in Germany for the next five years (with a three-year extension after mutual agreement), The specific quantity and product variety shall be delivered according to the customer's requirements, and the price shall be adjusted according to the change of market price.

Ganfeng Lithium and TSLA sign a three-year supply contract

In fact, the strategic cooperation with BMW is not the first cooperation between Ganfeng Lithium and foreign car companies this year.

Previously, Ganfeng Lithium and TSLA signed an agreement to supply 20% of their production to this automaker. An insider from Ganfeng Lithium stated that from January 2018 to December 2020, the three-year contract can be extended for another three years. This agreement will help Ganfeng and TSLA establish a healthy long-term partnership, "Ganfeng Lithium said." This will help improve the company's profitability and facilitate its long-term development. "After the news on the same day, the stock price soared, rising 10% to 32 yuan per share at the close of the Shenzhen Stock Exchange.

According to Benchmarkminerals, starting from the end of next year, Elon Musk's company may require 28000 tons of lithium hydroxide per year, based on the production of batteries equivalent to 3.5 billion watt hours at its Nevada factory.

In addition, Bloomberg reported that TSLA sold less than 15000 vehicles in China last year. Alixpartners, an American consulting firm, predicts that China's automotive market will rise to 29.1 million units this year and reach 38.2 million units by 2025 (equivalent to 52% of the global sales increase in the same period). By 2030, 40% of China's automotive sales will be electric vehicles. TSLA has a wholly-owned factory in China and may experience a breakthrough in sales in the Chinese market in the future.

Supply 90000 tons of lithium cargo in 7 years! Ganfeng Lithium and LG Sign a New Contract to Ensure Sales

In addition to signing supply contracts with foreign car companies, Ganfeng Lithium has also signed new contracts with foreign battery manufacturers.

Recently, Ganfeng Lithium announced that the company and LG Chem signed a Supplementary Contract to the Supply Contract, stipulating that from January 1, 2019 to December 31, 2025, the company and Ganfeng International will newly sell 45000 tons of lithium hydroxide and lithium carbonate products to LG Chem, and the price will be adjusted according to the market price changes. After signing the supplementary contract, from January 1, 2019 to December 31, 2025, the company and Ganfeng International sold 92600 tons of lithium hydroxide and lithium carbonate products to LG Chemical.

With so many large orders signed at once, can Ganfeng Lithium Industry meet the production requirements in its current state? Perhaps some people may have doubts.

Ganfeng Lithium Industry plans to invest in the construction of an annual production of 25000 tons of lithium hydroxide project

According to Ganfeng Lithium Industry, with the continuous development of the company, it is possible to invest in the construction of new production plans in the future. It is expected to build a 20000 ton lithium hydroxide production line in the second quarter of this year, mainly producing battery grade lithium hydroxide and battery grade lithium carbonate, with a production capacity of 20000 tons per year; A 17500 ton lithium carbonate production line was built in the fourth quarter, mainly producing battery grade lithium carbonate, with a production capacity of 17500 tons per year.

According to statistics, Ganfeng Lithium currently has a production capacity of 23000 tons/year of lithium carbonate, 12000 tons/year of lithium hydroxide, 1500 tons/year of metallic lithium, 500 tons/year of butyl lithium, and 1500 tons/year of lithium fluoride. In the current known production plan of the company, including a 20000 ton lithium hydroxide production line, a 17500 ton lithium carbonate production line, and a 500 ton butyl lithium production line, it is expected to be fully put into operation in 2019, and the company's production will reach approximately 80000 tons per year in 2019.

In addition, according to a recent notice released by Ganfeng Lithium, in order to meet the needs of domestic and foreign markets and achieve the company's development goals of becoming bigger and stronger, the board of directors of Ganfeng Lithium reviewed and approved the proposal for the construction of an annual production of 25000 tons of battery grade lithium hydroxide project on September 25th, agreeing that the company will invest no more than 500 million yuan in the construction of an annual production of 25000 tons of battery grade lithium hydroxide project with its own funds.

The notice shows that the project will build main projects such as pyrometallurgical transformation roasting, purification workshop, sodium sulfate workshop, lithium hydroxide workshop, lithium carbonate workshop, as well as related auxiliary, public and environmental engineering projects. Based on the original 15000 ton battery grade lithium carbonate project and 20000 ton monohydrate lithium hydroxide project at the company's Mahong production base, the process technology and production automation level will be significantly improved, At the same time, local supporting upgrades and renovations will be carried out on the original production line to further enhance product transformation efficiency and reduce production costs.

The implementation of this project will further expand the production scale and market share of high-end lithium salt products of Ganfeng Lithium Industry, which is conducive to improving the economic benefits of Ganfeng Lithium Industry and in line with its upstream and downstream integration and China's new energy vehicle industry development strategy.

The implementation of a project to expand production requires two key factors: one is lithium stone raw materials, and the other is funding.

Quickly expanding production and expanding global market share

In terms of ore raw materials, Ganfeng Lithium has already had a layout.

In recent years, Ganfeng Lithium has continuously acquired upstream mines. As shown in its 2017 annual report, Ganfeng Lithium has put into operation two spodumene mines, namely MountMarion in Australia and Ningdu Heyuan in Ganzhou, Jiangxi. Currently, there are four lithium resources under development, including two spodumene mines and two brine mines.

Since 2015, Ganfeng Lithium has expanded its global distribution of lithium resources, gradually ensuring the supply of upstream mines and raw materials. After having sufficient resources, its production also began to rapidly expand.

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