Hainan Mining sees steady iron ore growth as lithium business ramps up
2026-03-25 15:30:15 [Print]
Hainan Mining reported 2025 operating revenue of RMB4.42 billion (USD641 million), representing a year-on-year increase of 8.62%, supported by steady iron ore operations and a significant ramp-up in its lithium business.
The company's new energy segment achieved a key milestone during the year, delivering its first meaningful lithium output. At the Bougouni lithium project in Mali, annual production reached 45,000 tonnes of lithium concentrate. An updated resource estimate increased total spodumene resources to 47.37 million tonnes, up by 15.47 million tonnes, or 48.5%.
Downstream, lithium salt capacity continued to scale up. Annual lithium hydroxide production totaled 2,600 tonnes, with sales of 1,200 tonnes. The company has also begun upgrading its conversion facilities to add lithium carbonate production, further expanding its product portfolio.
Iron ore operations remained stable, with finished ore output rising 0.3% YoY to 2.19 million tonnes. Within this, lump ore production declined 2.56% to 1.46 million tonnes, while concentrate output increased 6.51% to 731,100 tonnes.
Looking ahead, Hainan Mining aims to produce 2 million tonnes of iron ore, 118,000 tonnes of lithium concentrate, and 16,000 tonnes of lithium salts in 2026. The company expects its new energy business to become a core driver of future growth.
The company's new energy segment achieved a key milestone during the year, delivering its first meaningful lithium output. At the Bougouni lithium project in Mali, annual production reached 45,000 tonnes of lithium concentrate. An updated resource estimate increased total spodumene resources to 47.37 million tonnes, up by 15.47 million tonnes, or 48.5%.
Downstream, lithium salt capacity continued to scale up. Annual lithium hydroxide production totaled 2,600 tonnes, with sales of 1,200 tonnes. The company has also begun upgrading its conversion facilities to add lithium carbonate production, further expanding its product portfolio.
Iron ore operations remained stable, with finished ore output rising 0.3% YoY to 2.19 million tonnes. Within this, lump ore production declined 2.56% to 1.46 million tonnes, while concentrate output increased 6.51% to 731,100 tonnes.
Looking ahead, Hainan Mining aims to produce 2 million tonnes of iron ore, 118,000 tonnes of lithium concentrate, and 16,000 tonnes of lithium salts in 2026. The company expects its new energy business to become a core driver of future growth.
Spodumene Li2O 3%min In port China
Unit:RMB/dmtu
China lithium cobaltate producers' inventory to production ratio statistics by province by month
Unit: %
