Lithium miner expects profits to plunge 65%

Ganfeng Lithium blamed a falling lithium salt price for its expected woes, rather than the effects of the COVID-19 outbreak on operations which it spelled out last month.Chinese energy storage raw materials company Ganfeng Lithium has issued a profit warning to investors. The business, which extracts the raw materials for lithium-ion batteries and sells lithium-related products, announced to the Hong Kong Stock Exchange total profits for 2019 are expected to plummet 65%, from RMB1.39 billion (US$199 million) in 2018 to RMB485 million. The company, which last month spelled out how the COVID-19 ...

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