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The introduction of new technologies in the process of lithium mining in China has reduced the cost of production of this essential component of batteries for electric vehicles to 15,000 yuan per ton, which is a record low, the South China Morning Post writes with reference to the report of the Chinese government. The implementation of a research project funded by the Chinese Academy of Sciences led to the identification of a cost-effective way to separate lithium from other substances, including magnesium. Chinese companies, like American companies, have invested heavily in lithium mining projects in Chile, Australia and Argentina. According to data from the Bloomberg NEF, China currently controls about two-thirds of the world's lithium cells production capacity, while the United States accounts for only 13% of these capacities. Bloomberg NEF predicts an increase in China’s share of up to 73% of world capacity by 2021.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
Oil prices fell on Monday as a surge in coronavirus cases and the escalating U.S.-China tensions prompted a safe-haven bid. Brent crude slid 0.2%, or 8 cents, at $43.26 per barrel. U.S. West Texas Intermediate crude fell 0.2%, or 7 cents, ...
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