Zijin shares jumped as much as 8.8% in Hong Kong on Monday, and are up 17% this year.

Lithium has gotten so hot that even China’s gold miners want a slice of the market, sky high valuations and all.

Exports of unprocessed nickel ore from Indonesia, the world’s top nickel miner, ceased in January 2020, due to a government-imposed ban.

The Chinese company also cited higher costs for raw materials such as lithium carbonate for the price increase.

The plant will be in the town of Guben, a roughly 90-minute drive from where Tesla is building its gigafactory.

LME Week resumes amid continued covid risk.

In August, Chinese gold and copper miner Zijin said its plan on lithium and other new energy minerals were in a preliminary strategic planning stage.

The global cobalt industry is set to receive a significant boost from the worldwide shift to a green economy, Fitch says.