EnergyTrend has learned that on August 24, Chengxin Lithium announced that the company intends to invest in and construct lithium sulfate projects with an annual capacity of 75,000 tonnes each in Zimbabwe and Nigeria. The total planned investment for the two projects combined is approximately US$476 million (approximately RMB 3.2 billion).
Among them, the Zimbabwe project has a planned total investment of approximately US$244 million, and the Nigeria project has a planned total investment of approximately US$233 million, both with a construction period of 19 months.
The two newly planned overseas lithium sulfate projects will align with Chengxin Lithium's existing overseas lithium resource layout. Currently, the company already owns the Sabi Star Lithium-Tantalum Mine in Zimbabwe, with a raw ore production scale of 990,000 tonnes/year and a lithium concentrate output of approximately 290,000 tonnes/year; in Nigeria, it is currently constructing a mineral processing plant with a capacity of 500,000 tonnes/year, with plans to further expand capacity. The company stated that the construction of the lithium sulfate projects is mainly aimed at utilizing local lithium resources, promoting localized processing of raw materials, and reducing production and logistics costs.
Financial reports show that in the first half of 2026, driven by increases in the sales volume and average selling price of lithium salt products, Chengxin Lithium achieved revenue of RMB 7.358 billion, a year-on-year increase of 355.94%; net profit attributable to shareholders of the listed company reached RMB 1.012 billion, up 220.30% year-on-year. Among this, the company's lithium product revenue accounted for RMB 7.358 billion, representing 99.99% of total revenue, with a gross margin of 31.75% for lithium products.
Currently, the company's Shengtok Lithium Salt Project in Indonesia has reached full production capacity, exhibiting strong sales and profitability. The project has established a capacity of 60,000 tonnes/year of lithium salt, and the company stated that it will continue to leverage the ramp-up of this capacity to enhance its overseas lithium product supply capability.
Source：EnergyTrend