China’s Tianqi Lithium posts 2017 profit rise

By Carrie Shi
Published: Tuesday, 27 March 2018

Tianqi Lithium, one of the world’s largest lithium producers, posted a jump up in net profits and revenue in 2017 as the demand for lithium-ion batteries from the EV sector continues to grow. And more is still to come, as the company forecast stronger results in Q1 2018 amid higher spodumene prices.

China-based Tianqi Lithium attributed an increase in full-year net profit and revenue in 2017 to higher sales of spodumene and lithium, driven by the rapid development and growing use of new energy vehicles (NEVs).

Net profit of 2.15 billion yuan was up by 41.86% from a year earlier on revenue...

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