​Ningde Times (CALT) Yichun Lithium Mica Mine stopped production on time, and some people went up the mountain late at night to stay watch!

Ningde Times  (CALT) Yichun Lithium Mica Mine stopped production on time, and some people went up the mountain late at night to stay watch!-11th,August,2025

Over the past month, the news that eight lithium mining companies in Yichun, Jiangxi need to complete reserve verification reports by the end of September has been disrupting the price trend of lithium carbonate. Yichun Times New Energy Mining Co., Ltd., a subsidiary of Ningde Times, is one of the eight lithium mining enterprises. Its mining rights for ceramic soil (including lithium) from Zhenkouli in Yifeng County to Jianxiawo Mining Area in Fengxin County (hereinafter referred to as "Jianxiawo Mining Area") began on August 9, 2022 and will expire on August 9, 2025, with a large production capacity. Therefore, whether to stop production is the most concerning issue. Regarding the issue of mining rights in the Jianxiawo mining area, on the last working day before expiration (August 8th), Securities Times reporters called Ningde Times Securities Department multiple times, but no one answered the phone. Faced with various market speculations, CATL has recently repeatedly stated to the public that the Jianxiawo mining area is still operating normally, and the application materials for the renewal of mining rights have been submitted, with an optimistic attitude towards the renewal. On August 10th, the day after the expiration of the mining rights in the Jianxiawo mining area, Securities Times reporters conducted on-site visits to determine whether the mine would be shut down.

The Jianxiawo mining area is located at the border of Yifeng County and Fengxin County. Standing at the foot of the mountain in Huaqiao Township, Yifeng County, overlooking Huxi, one can see the mining area on the mountaintop from afar. The excavators in the operation area are motionless, and there is no sound of roaring machines. Unlike previous on-site visits by reporters, the original white mining area was covered in green clothes in many places. Compared to the photos taken by the reporter before, the height of the mountaintop seems to have decreased significantly. The mining area was shut down last night. Before, when normal work started at night, the lights were on, and the houses below could feel the explosions on the mountain. "The villagers of Huxi told the Securities Times reporter," Many of the mountains in the mining area were originally our villagers' mountains, which were later sold to them. "The Jianxiawo mining area is currently one of the largest lithium mica mines in Yichun area. According to the previous disclosure by the Natural Resources Bureau of Yichun City, the "Evaluation Report on the Transfer of Exploration Rights for Ceramic Soil Mines in Zhenkouli Fengxin County Jianxiawo Mining Area, Yifeng County, Jiangxi Province", the construction investment for the evaluation and design project of the mine is 2.158 billion yuan, and the recoverable reserves of Jianxiawo Mining Area are 774.92 million tons. Calculated based on a production scale of 30 million tons per year, the service life of the mine is 25.83 years. According to the average grade of lithium oxide used by securities analysts, the production scale of the Jianxiawo mining area can reach 200000 tons/year of lithium carbonate. Therefore, whether to stop production is particularly concerned by the market. During an interview in Huxi Village, a Securities Times reporter coincidentally met several investors. We may be the only witnesses from the outside world to witness the shutdown of the Jianxiawo mining area, "the investor told reporters." Yesterday, we climbed to the top of the mountain from a small path at around 9 pm, reached the top at 11 pm, and by 12 pm, all excavators and bulldozers stopped production on time. "The scorching heat in the mountains, although cooler than in the city, was as high as 35 degrees Celsius. At that time, the aforementioned investors were shirtless, with multiple cuts on their arms and knees. We waited until 4am before going down the mountain, and then slept in the car after going down. "The license plates driven by the investors mentioned above showed that they were from Jiangsu. Is it true that as the villagers and investors mentioned above, the Securities Times reporter attempted to enter the Jianxiawo mining area again to investigate. However, at the security checkpoint leading to the mountaintop, they were stopped by security personnel. After revealing his identity as a journalist, the security guard on duty said, "The mining area stopped last night, and if you want to go up the mountain, you must have the approval of the company leaders." After several unsuccessful communications, the journalist had to return.

Previously optimistic about the renewal of mining rights, the lithium bearing porcelain clay ore in the Xiawo mining area needs to be transported to the Fengxin Resource Mineral Processing Plant in Shangfu Town, Fengxin County. After sorting, flotation and other procedures, it is finally produced into lithium mica. The transportation of lithium bearing porcelain clay ore between the Jianxiawo mining area and the Fengxin Resource beneficiation plant is completed through conveyor belts. This built conveyor belt runs through several mountains for several kilometers, like a giant dragon. On the way to the Fengxin Resource Mineral Processing Plant, you can observe this conveyor belt up close at multiple locations. Upon closer inspection, the reporter found that the conveyor belt was not running and no sound could be heard. During a visit to Dong Tiancun near Fengxin Resources Concentrator, the reporter also met several investors who came from Shanghai. They said, "I don't know what Ningde Times is worried about, but they would not let drones fly in the village." After seeing the reporter, the above-mentioned investor roast from Shanghai said, "This is not a no fly zone. At that time, before our drones took off, their security guards came to stop them." Dong Tiancun was about 2000 meters away from Fengxin Resources Concentrator, standing in the square at the entrance of the village, and the Fengxin Resources Concentrator halfway up the mountain was clearly visible. Prior to this, we had maintained close contact with several lithium companies in the Yichun area, and they generally held an optimistic attitude towards the renewal of mining rights in the Jianxiawo mining area, believing that production would not stop. The Shanghai investor mentioned that in mid July, the Yichun Natural Resources Bureau in Jiangxi Province required eight lithium mining enterprises to complete reserve verification reports by the end of September, which explicitly mentioned the issue of unauthorized approval, causing market panic. According to a report by COFCO Futures Research Institute, the production scale of mining rights in 8 mines is 73.9 million tons (raw ore) per year, with 7 mines in production. The actual production scale is 43.9 million tons per year, accounting for about 20% of the monthly production in China. It is precisely because of the above reasons that lithium carbonate futures prices have fluctuated significantly in recent times. Data shows that from June 23 to July 25, the main contract price of lithium carbonate increased from 58400 yuan/ton to 80500 yuan/ton, with a range increase of up to 36.71%. Subsequently, there was a deep correction, and by August 5th, it had fallen back to around 68000 yuan/ton. It is worth mentioning that behind the significant correction of lithium carbonate in the early stage, on the evening of July 30th, at the 2025 semi annual report performance interpretation meeting, relevant executives of CATL stated that the production and operation of CATL's lithium mining project in Yichun, Jiangxi are currently normal. As for the renewal of mining rights, CATL has submitted application materials to the Natural Resources Bureau of Yichun City, Jiangxi Province in accordance with relevant regulations. According to the executives mentioned above at the time, relevant departments at the provincial and municipal levels have confirmed receipt of the application. The materials required for Ningde Times to renew its mining rights are complete and the content is complete. The company is currently waiting for approval, and we think the situation is relatively optimistic.

CALT ( NingDe Time )

The Mine of CALT ( NingDe Time )

The fate between Ningde Times and Yichun can be traced back to four years ago, as the shutdown affected downstream construction. In September 2021, CATL signed a cooperation agreement with the Yichun Municipal Government to build a new lithium battery production and manufacturing base project in Yichun, with a planned land area of 1300 acres and a total investment of approximately 13.5 billion yuan. Subsequently, from the mining of lithium mica, to flotation plants, and then to smelting plants, Ningde Times successively launched its layout in Yichun. In April 2022, Yichun Times New Energy Mining Co., Ltd., a subsidiary of Ningde Times Holdings, successfully won the exploration rights for ceramic soil (including lithium) in the Zhenkouli Fengxin County Jianxiawo mining area of Yifeng County, Jiangxi Province, with a bid of 865 million yuan. The exploration area of the mine is 6.44 square kilometers, with an estimated porcelain ore resource of 960.251 million tons and associated lithium metal oxide of 2.65678 million tons. Subsequently, Ningde Times stated on its official WeChat account that the acquisition of lithium mining exploration rights in Yichun City by Yichun Times New Energy Mining is an important measure for Ningde Times' overall industrial chain layout. Ningde Times will accelerate the exploration and development of lithium mineral resources, increase the supply of lithium resources, promote the rational return of lithium related raw material prices, and assist Yichun in building a new energy fully green industrial development system of "lithium resources lithium battery materials power batteries electric vehicles", in line with the national strategic mineral security guarantee, to create a green "Asian lithium capital". It is reported that the 33 million ton lithium containing porcelain clay beneficiation project in Jianxiawo mining area, Yichun, Jiangxi, under Ningde Times, will be constructed in three phases. The first phase will have a beneficiation capacity of 10 million tons per year and will be completed in 2023. However, after the completion of the Ningde Times Jianxiawo Mine, the price of lithium carbonate no longer enjoyed its glory. From 600000 yuan/ton in October 2022, it has been continuously declining. By September 2024, lithium carbonate futures will fall below 70000 yuan/ton. In this context, on September 11, 2024, news of production suspension was reported in the Ningde Times' Jianxiawo mining area, which also sparked the lithium carbonate futures market. On that day, the main lithium carbonate contract LC2411 rose 7.91%. However, in February of this year, the mine resumed work. The Jianxiawo mining area of Ningde Times is very large, and the grade of associated lithium oxide is relatively low, with an average grade of 0.27-0.28%, resulting in high lithium extraction costs. Therefore, they also purchase some high-grade lithium bearing porcelain clay ore from outside and mix it for processing. "In an interview, the person in charge of a lithium mica processing enterprise told reporters," Ningde Times' complete cost of lithium carbonate in Yichun is estimated to be around 100000 yuan/ton. Therefore, when the price of lithium carbonate fell to 70000 yuan last year, their lithium salt smelting plant was' forced 'to shut down. At that time, our factory also stopped for a period of time last year. "It is reported that Ningde Times has three lithium carbonate factories in Yichun area. Lithium salt smelters were established during the Longpan era, Wanzai era, and Fengxin era. Among them, Yichun Longpan Times is jointly owned by Ningde Times and Longpan Technology with 30% and 70% shares respectively, and is the main operating company of the lithium carbonate project jointly built by Longpan Technology and Ningde Times. On January 17, 2025, Longpan Technology announced that it had signed a procurement agreement for positive electrode materials with CATL for the year 2025, with a maximum purchase limit of 7 billion yuan. At the same time, CATL will also supply Longpan Technology with the required lithium carbonate raw materials such as lithium mica, with a procurement limit of 1.32 billion yuan. Longpan Technology has previously stated that its mining resources are stably supplied by Ningde Times' Jianxiawo mining area located in Fengxin County. On August 1st last year, the company announced on the investor interaction platform that the 40000 ton lithium carbonate project of Longpan Era in Yichun has basically reached the predetermined usable state. Previously, everyone was optimistic about the renewal of the Jianxiawo mining area, but they didn't expect it to suddenly stop. So, what will be the fate of the other seven? Now, the deadline for Yichun City to complete the preparation of reserve verification reports for various mining enterprises is before September 30th, "the person in charge of the lithium mica processing enterprise mentioned above told reporters..