| Company Name: | Ganfeng Lithium Co., Ltd. |
| Native Name: | 赣锋锂业股份有限公司 |
| Company Logo: | Ganfeng Lithium logo.svg |
| Company Type: | publicly traded company |
| Traded As: | HKEX: |
| Location: | Longteng Road, Economic Development Zone, Xinyu, Jiangxi Province, China |
| Key People: | Li Liangbin (李良彬, chair) Wang Xiaoshen (王晓申, vice-chair and president) |
| Industry: | Mining |
| Num Employees: | 7,870 (2020) |
| Products: | Lithium products and other metals |
| Website: | http://www.ganfenglithium.com/ |
| S: | 赣锋锂业 |
| T: | 贛鋒鋰業 |
| Order: | st |
| Hp: | Gànfēng Lǐ Yè |
Ganfeng Lithium Co., Ltd. is a company that produces lithium, lithium products, other metals, and batteries in mainland China and globally. It was founded by Li Liangbin in 2000 and is headquartered in Xinyu, Jiangxi.[1] It is the largest lithium salt producer in China and the third largest in the world,[2] as well as the second largest lithium processor in the world (after the Chilean Sociedad Química y Minera).[3] It is traded on both the Shenzhen Stock Exchange and the Hong Kong Stock Exchange (HKEX:)[4] and has a market capitalization of US$26 billion.[3]
Ganfeng Lithium was founded in 2000[5] [3] by Li Liangbin (李良彬) and Li Huabiao (李华彪) in Xinyu City, Jiangxi.[6] In 2003, the company built a lithium production base.[5] The company's leaders, Li Liangbin and Wang Xiaoshen (王晓申), are both of poor, rural origins.[3]
The company started out in chemical processing, but it has expanded its scope by developing mines internationally.[3] In 2017 it began producing batteries for the growing electric vehicle industry. Wang said Ganfeng's battery production would benefit from an economy of scope: "We are the leading supplier of lithium chemicals which will benefit our battery plant."[7]
Described as a "lithium supermarket", Ganfeng sells a wide variety of lithium and related products, including lithium salts, other metals, and batteries.[1] Its lithium salt production capacity was estimated at 120,000 tons per year as of 2021.[8] As of 2019, it is the largest pure lithium producer in the world.[9] As of 2022, it is also the largest lithium salt producer in China and the third largest in the world,[2] as well as the second largest lithium processor in the world (after the Chilean Sociedad Química y Minera).[3] In 2020, Ganfeng produced an estimated 24% of the world's lithium hydroxide.[10] It sells products to clients including Tesla, BMW, and LG Chem.[8] [11]
Ganfeng invests in lithium projects overseas[3] and says its "strategy is to secure long-term competitive resources".[7] It owns three lithium brine projects in Argentina[4] and was the largest shareholder of Lithium Americas in 2021.[12] In 2014, Ganfeng invested in the Mariana lithium-potassium brine project in Argentina.[5] In 2015, the company invested in the Australian company Reed Industrial Minerals, gaining rights to its Mount Marion spodumene project.[5] In 2021, it acquired a 50% ownership stake in the Goulamina mine, a lithium mine in Mali's Ségou Region.[13] [14] [15] [16] The company also has investments and contracts in China,[15] Ireland,[15] Mexico,[15] [3] and the Democratic Republic of the Congo.[15]
This international scope makes Ganfeng vulnerable to geopolitical tension.[3] Its former supplier Joe Lowry said that the company would be "treading a fine line" between international pressures; Ganfeng risks being affected by US government actions targeting Chinese companies or by Chinese government intervention in the electric vehicle industry.[3] Governments in Latin America have also taken steps that may limit Ganfeng's opportunities there; for instance, Mexican president Andrés Manuel López Obrador has worked to nationalize the country's lithium.[10] [17]
The company is dual-listed on the Hong Kong Stock Exchange and the Shenzhen Stock Exchange.[3] As of August 2022, it has a market capitalization of US$26 billion.[3]
On 10 August 2010, the company had an IPO on the Shenzhen Stock Exchange. It issued 25 million new shares at a price of 20.7 RMB each, raising 517.5 million RMB.[18] [6]
On 11 October 2018, it had an IPO on the main board of the Hong Kong Stock Exchange at a list price range of 16.50–26.50 HKD. The company issued 200,185,800 H shares, raising 3.171 billion HKD, which it used to expand its lithium-related activities. China Structural Reform Fund, LG, Samsung, Dongfeng Motor Corporation, FAW Group, and GoldenSand Capital were the six cornerstone investors.[19] [20] [21] [22]
In July 2022, Ganfeng announced that it was being investigated by the China Securities Regulatory Commission in a possible insider trading case.[8] The company's stock fell 7% on the Shenzhen stock exchange after the announcement.[23]