Tsingshan Holding Group, the Chinese firm that shook the nickel world by rapidly boosting output in Indonesia, is among the latest entrants to the white-hot lithium sector, potentially making it a one-stop shop for electric vehicle battery ingredients.
Tsingshan did not respond to a request for comment on its lithium plans, but a company executive told Reuters the"battery business will become a new core business." "It is possible Chengxin can secure additional offtake ... but it is likely the competition for the spodumene concentrate will be fierce," said Wood Mackenzie analyst Allan Pedersen.
Indonesia's proximity to Australia will also help, experts say. Australia is by far the world's biggest spodumene supplier and is expected to drive 51per cent of the global increase in lithium raw material supply in 2020-25, said analyst Alice Yu of S&P Global Market Intelligence.Tsingshan already plans annual output of at least 230,000 tonnes of battery-grade nickel and around 27,000 tonnes of cobalt with other partners in Indonesia.
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