Trump Pours Three Billion Dollars into Critical Mining to Reduce Reliance on China

Yongshan Lithium held an online results briefing for its 2026 semi-annual report on the Shanghai Stock Exchange roadshow centre on 8 October. In the first half, the company achieved operating revenue of 4.37 billion yuan, up 82.6 percent year on year. Net profit attributable to the parent company was 198 million yuan, swinging from a loss of 144 million yuan in the same period last year. Net profit attributable to the parent after deducting non-recurring items was 290 million yuan, also turning positive from a loss of 164 million yuan a year earlier. Net operating cash flow was negative 278 million yuan, and earnings per share were 0.3861 yuan. First-half research and development expenses were 82.36 million yuan, a sharp year-on-year increase of 194.65 percent. Of this, material expenses were 62.26 million yuan. Technical upgrades in the leaching section reduced lithium loss in slag by 15 percent and raised processing capacity for high-magnesium lithium ore by 30 percent. The lithium sulphide project has entered the pilot stage. The company said it will focus on deepening its core lithium salt business for now and has no plans to expand into other businesses. The phase three project at the Changsha base, with annual capacity of 22,000 tonnes of lithium salt, is progressing as planned and is expected to begin trial production before the end of the year.

Jiangte Motor announced on October 11 that the company recently received the Review Opinion on the Safety Facility Design for the 3 Million Tonnes Per Year Mining Project of the Xikeng Lithium Mine in Yifeng County, Jiangxi Province, issued by the National Mine Safety Administration, which approved the Safety Facility Design in principle. The Xikeng Lithium Mine is China's first mica-type lithium mining rights certificate processed by the Ministry of Natural Resources, an important achievement of the country's new round of strategic prospecting breakthroughs, and a key lithium resource for the company. The approval of the Safety Facility Design marks a crucial step in advancing the Xikeng Lithium Mine from obtaining mining rights to commencing construction in accordance with the law.

AMG Critical Materials N.V. announced that the European Commission has designated two of AMG Lithium's activities as Critical Raw Materials Act Strategic Projects 2026. The two designations cover AMG's lithium refinery in Bitterfeld, named a European Lithium Refining and Recycling Hub, and Zinnwald Lithium, recognized for Integrated Extraction and Processing. CEO Dr. Heinz Schimmelbusch said the decision affirms AMG's strategy of building an independent lithium supply chain for Europe and reducing dependence on foreign supply chains. The Commission's recognition means the projects will directly contribute to benchmarks set in the Critical Raw Materials Act, which aims by 2030 to increase the EU's competitiveness and resilience while decreasing dependency on any single supplier. AMG, listed on Euronext Amsterdam and Deutsche Börse, employs approximately 3,500 people and operates production facilities in Germany, the United Kingdom, France, the United States, China, Mexico, Brazil, and India.

E-Finance Thai news agency reports that Thailand's electric vehicle batteries have begun operations under an integrated Second Life model with full-cycle recycling, marking the first step, or the first button fastened, in the country's EV battery management system. The model aims to link the reuse of used batteries in a Second Life format with a fully integrated recycling process. The report states that this undertaking is an integrated collaboration covering both reuse and the systematic handling of battery waste. The news was published on 9 October 2026, reported by Prakai Dao Baengsanthia, editor of digital asset news.

Elevra Lithium rose 5.5% in Thursday's trading after signing a binding contract to supply spodumene concentrate to South Korea's LG Energy Solution from its North American Lithium project in Quebec. Under the deal, Elevra will deliver 240K dry metric tons of spodumene concentrate over three years, with shipments expected to begin in 2026. In addition to that contracted base quantity, the company said it may supply up to 90K dmt of optional volume over the same three-year term, subject to agreement between both parties. The deal comes as LG Energy looks to bolster its North American supply chain and meet growing demand for energy storage systems in the region. CEO Lucas Dow said securing a leading global battery manufacturer as a customer further strengthens the commercial position of NAL and supports the company's strategy of building a diversified portfolio of high-quality customers as it increases production.

Brunswick Exploration Inc. has reported assays from a 202-metre interval at its Anatacau Main Project in Quebec's Eeyou Istchee James Bay region, returning 1.31% Li2O from 274.25 to 476.70 metres in drill hole AN-26-15. Within that intercept, an 85-metre high-grade core graded 1.73% Li2O, which the company called a substantial jump in grade observed to date at the Anais dyke. The same hole returned two other major pegmatitic intervals separate from the Anais dyke, 1.41% Li2O over 21.5 metres and 1.28% Li2O over 9.2 metres, pointing to a wider mineralized system at Anatacau. The Anais dyke remains open in all directions and has significantly expanded following this hole, which confirmed mineralization to a vertical depth of 300 metres. Four holes totaling approximately 1,700 metres have been drilled in the Anais sector, with all assay results pending except for AN-26-15, and drilling is ongoing.