Hundreds of labor-intensive mines are expected to close in the coming decades.

He Jinbi and his company Maike Metals have been the focus of legal action by creditors.

Xinkuang Ganfeng Lithium was established last year for mining exploration but never started operations.

The world’s metal traders are enduring one of their toughest periods in years.

Production is forecast to exceed usage by 467,000 metric tons in 2024, a significant upward revision from the expected 297,000 metric ton surplus from April.

The group is seeking preferential terms on transport, grades and delivery arrangements.

China restricted exports of the metal in August amid an escalation of trade war on technology with the US and Europe.

The spread offers traders an opportunity to make money, but also highlights just how bearish the outlook is in the top EV producer.